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Bear rampage saw the stock nosedive 60% in trade on Thursday and wiped out over $80 billion of its market value.Not only the shares, but even the bond prices of the group collapsed and created a panic in the market.

The board has declared an equity dividend of Rs 30 per share in the past 12 months, resulting in a yield of 1.05%. Shares of the company are traded 0.48% lower at Rs 2,848 apiece on NSE

The consensus report projected top-15 stocks to be contributing 68% to the potential target price upsides of the Top-100 set while the remaining 32% to be contributed by next 85 stocks.

The rupee has fallen in value relative to the dollar, meaning Indian exporters will receive a lower rate when they hedge their future forward dollar receipts. This has led to a decline in premiums, which are not expected to move back to the 4%-5% level given the inflation outlook and the likelihood that the Fed will keep rates higher for longer.

"The markets have become very rotational in terms of first sectors and then stocks. That will continue till we get some better clues from the Fed meeting. But until then, it is just going to remain this choppy and be data driven. There is always a risk of unintended consequences as rates go higher. So any event, which is never good news for markets, might be the catalyst which will give the Fed an opportunity to go on hold and the market will start to re-price the risk again."

The stock traded at a P/E multiple of 66.76, while the price-to-book value ratio stood at 8.49.

The stock quoted a 52-week high of Rs 6520.0 and a 52-week low of Rs 3733.25.

The Relative Strength Index of the stock stood at 48.53 on Friday.

ICICI Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 586453.78 Crore).

At a time when uncertainty looms over the industry, led by high inflation, unpredictable monsoons, continued weak rural sales, and delay in commodity costs decline, ITC’s earnings performance in the last couple of years and FY24 shines like a beacon, said Motilal Oswal.