ICICI Bank Share Price Today, December 1, 2025: Bond Issue, New Director, and Fresh Targets for ICICIBANK Stock

Updated: December 1, 2025

ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174) opened the new month with a flurry of news: a large Tier II bond issue, a fresh RBI nod on its pension subsidiary, a significant IPO in the wider ICICI group, and a new independent director joining the board from today. All of this lands on a day when Indian equities are buoyant after better‑than‑expected GDP data, keeping the spotlight firmly on large private banks. ^[1]

This article pulls together the latest price action, fundamental performance, technical indicators, and broker forecasts as of December 1, 2025, to give a rounded view of ICICI Bank’s stock.

Key highlights for investors

ICICI Bank is trading around ₹1,395 per share on NSE this morning, modestly higher than Friday’s close of ₹1,388.80. ^[2]
The stock is 6–7% below its 52‑week high near ₹1,500, with 1‑year returns in the mid‑single digits but very strong 3‑ and 5‑year compounding. ^[3]
On October 18, 2025, the bank reported Q2 FY26 standalone net profit of ₹12,359 crore, up about 5.2% year‑on‑year, with gross NPA ratio down to 1.58% and net NPA to 0.39%. ^[4]
The board has raised ₹3,945 crore via Tier II bonds at a 7.40% coupon, and the RBI has cleared ICICI Bank to raise its stake to 100% in ICICI Prudential Pension Fund Management. ^[5]
The wider ICICI group is in focus as ICICI Prudential AMC gears up for a ₹10,000‑crore IPO in December, with ICICI Bank retaining its 51% stake in the AMC. ^[6]
Analysts’ 12‑month targets cluster between ₹1,500 and ₹1,900, implying potential upside of roughly 10–30% from current levels, though some platforms now flag the stock as fairly valued on near‑term metrics. ^[7]

ICICI Bank share price today: where the stock stands

As of around 10:00–10:10 a.m. IST on December 1, 2025, ICICI Bank shares are quoted near ₹1,394–1,396 on the NSE, up a few tenths of a percent versus the previous close of ₹1,388.80. ^[8]

Data from Dhan and other market platforms show: ^[9]

Last traded price (approx.): ₹1,394–1,396
52‑week range: about ₹1,186 – ₹1,500
Past 1‑year return: roughly 7%
3‑year return: around 48%
5‑year return: close to 180–190%

The stock thus sits not far from its historic peaks, but with more subdued returns over the last twelve months compared with its stellar longer‑term compounding.

From a trading‑risk lens, the stock’s six‑month beta of ~1.4 and an average three‑month daily volatility around 4.6% indicate that ICICI Bank tends to move more than the broader Indian market in both directions. ^[10]

On valuations, live data this morning places the bank around: ^[11]

Price‑to‑earnings (P/E): roughly 17–19x
Price‑to‑book (P/B): about 3x

These are premium, but not extreme, multiples for a leading private sector bank with consistent 2%‑plus return on assets.

Fresh news flow on December 1, 2025

1. Tier II bond issue: ₹3,945 crore at 7.40%

Late last week, ICICI Bank completed a ₹3,945‑crore Tier II bond issue, allotting 3,945 unsecured, redeemable, Tier II Basel III compliant NCDs of ₹1 crore each on a private placement basis. The bonds carry a coupon of 7.40% and a maturity of 15 years, with a call option typically available after 10 years, and have been rated ‘AAA/Stable’ by major domestic rating agencies. ^[12]

For equity investors, this does a few things:

Supports capital adequacy without diluting equity.
Locks in long‑term funding at a rate that is still reasonable given the interest‑rate environment.
Signals the management’s willingness to keep headroom for growth and regulatory buffers.

2. RBI nod for 100% stake in ICICI Prudential Pension Fund

In its pre‑market note on stocks to watch for December 1, NDTV highlighted ICICI Bank after the lender received RBI approval to acquire 100% of ICICI Prudential Pension Funds Management Company, consolidating control over a high‑growth retirement‑solutions business. ^[13]

ICICI Bank already has material exposure to life insurance, general insurance and asset management via its subsidiaries. A full stake in the pension fund arm:

Deepens its presence in the long‑term savings and retirement ecosystem.
Can support fee‑based income, which is less capital‑intensive than traditional lending.

This sits alongside the imminent ICICI Prudential AMC IPO, where UK‑based Prudential Corporation Holdings will sell 10% of the AMC, while ICICI Bank continues to hold 51%. The AMC’s assets under management are reported above ₹10 trillion, with FY25 net profit of roughly ₹2,650 crore, underlining the scale of the fee‑income platform around ICICI Bank’s core franchise. ^[14]

3. New independent director from December 1

The board has appointed Ms. Vijayalakshmi Iyer as an Additional (Independent) Director for a term running from December 1, 2025 to May 31, 2030, subject to shareholder approval, as disclosed in the bank’s October 18 board communication and corresponding Form 6‑K filing. ^[15]

Iyer is a veteran banker and regulator with several decades of experience in public‑sector banking and financial sector governance. Strengthening the bench of independents is generally viewed positively by institutional investors, especially for systemically important banks.

Earnings scorecard: ICICI’s growth engine in FY25–26

Q2 FY26: steady profit, stronger asset quality

From its Q2 FY26 standalone results (quarter ended September 30, 2025), ICICI Bank reported: ^[16]

Interest earned: ₹41,758 crore
Other income: ₹7,576 crore
Operating profit before provisions: ₹17,298 crore
Net profit: ₹12,359 crore vs. ₹11,746 crore in Q2 FY25 (about 5.2% YoY growth)
Capital adequacy ratio (Basel III): 15.76%
Return on assets (RoA): 2.36% (annualised)

Asset quality continued to strengthen:

Gross NPA ratio down to 1.58% (vs 1.97% a year ago).
Net NPA ratio at 0.39% (vs 0.42% a year ago).
Gross NPAs as a share of advances fell to about 1.64%, with coverage levels remaining high. ^[17]

Deposits and advances stayed in double‑digit growth territory, with advances up a little over 10% and deposits up close to 8% year‑on‑year as of September 30, 2025, reinforcing ICICI’s position as one of the fastest‑growing large private banks. ^[18]

International research commentary around these results has generally highlighted: ^[19]

Resilient margins despite an intense battle for retail deposits.
Leading RoA and credit‑cost metrics versus peers such as HDFC Bank.
Early signs of pressure in certain rural and international portfolios, but contained at the portfolio level.

Q1 FY26: high‑teens profit growth and low NPAs

In Q1 FY26 (June 2025 quarter), ICICI Bank delivered another strong set of numbers: ^[20]

Net profit: ₹12,768 crore, up 15.5% YoY.
Core operating profit: up 13.6% YoY to ₹17,505 crore.
Net interest income (NII): grew 10.6% YoY to ₹21,635 crore.
Net interest margin (NIM): about 4.34%, slightly lower than Q4 FY25 but still very healthy.
Gross NPA ratio: 1.67%; Net NPA: 0.41%.

Retail loans now make up over half the loan book, while business banking and SME portfolios are growing faster than the overall book. At the same time, the bank has kept overall asset quality strong, with a provision coverage ratio above 75% on non‑performing loans. ^[21]

Q4 FY25: the quarter that pushed m‑cap past ₹10 lakh crore

Back in Q4 FY25, ICICI Bank grabbed headlines after its market capitalisation breached ₹10 lakh crore, making it the second‑most valuable Indian bank after HDFC Bank. ^[22]

Key metrics then included:

PAT for Q4 FY25 up 18% YoY to ₹12,630 crore.
NII rising 11% YoY to ₹21,193 crore.
Strong fee income growth and double‑digit advances growth, which led brokerages like Motilal Oswal and Nuvama to retain ICICI as a top sector pick with revised target prices of ₹1,650 and ₹1,630 respectively. ^[23]

Taken together, Q4 FY25 through Q2 FY26 show a consistent pattern: high‑teens RoE, RoA around 2.4%, improving asset quality and solid loan growth, with only mild margin compression as deposit costs catch up.

Ownership and index status: a core benchmark holding

Listing data confirm that ICICI Bank is a core benchmark constituent of both the Nifty 50 and the BSE Sensex, with ISIN INE090A01021 and the codes ICICIBANK (NSE) and 532174 (BSE). ^[24]

Broker and broker‑aggregator data indicate a heavily institutional shareholding pattern as of Q2 FY26: ^[25]

Foreign institutional investors (FIIs): ~45.5%
Domestic institutional investors (DIIs): ~45.1%
Public & others: ~7.2%
Government holding: a very small fraction, about 0.3%

Analysis from platforms such as MarketsMojo emphasises how ICICI’s large‑cap status and Nifty 50 membership make it an anchor position for active funds and index products, supporting depth and liquidity in the stock. ^[26]

Technical setup and derivatives: bulls eyeing ₹1,400

On the technical side, there are a couple of near‑term signals to note:

Support and resistance: EquityPandit’s weekly outlook for the week of December 1–5 pegs immediate support for ICICIBANK around ₹1,362, with a deeper support zone near ₹1,336, and immediate resistance in the ₹1,406–1,425 band. A sustained close above that zone would open the door to fresh highs, while a break below support could trigger profit‑taking. ^[27]
Options positioning: Derivatives data collated by MarketsMojo show heavy call‑option activity at the ₹1,400 strike for the December 30, 2025 expiry, with several thousand contracts in open interest and a turnover measured in crores of rupees. This clustering suggests many traders expect the stock to hover near or gently above ₹1,400 into year‑end rather than stage a dramatic breakout or breakdown. ^[28]

The same platform’s internal “Mojo score” currently sits in mid‑50s with a ‘Hold’ grade, hinting that while fundamentals are strong, valuations and near‑term technicals no longer scream bargain. ^[29]

What brokers and models are forecasting

Street targets

Across domestic and international brokerages, the 12‑month fair‑value band for ICICI Bank is fairly tight and skewed to the upside:

Motilal Oswal: target ₹1,650, “preferred ‘Buy’ in the sector” after Q4 FY25, with upgraded earnings estimates for FY26–27. ^[30]
Nuvama: target ₹1,630, reiterating ICICI as a top pick among private banks. ^[31]
Kotak Securities (MTF recommendation): short‑ to medium‑term trading call with a target around ₹1,525 and a stop‑loss near ₹1,290, reflecting constructive, but not euphoric, near‑term expectations. ^[32]

On global research aggregators:

TipRanks reports an average 12‑month target near ₹1,700, with a high estimate close to ₹1,900 and a low around ₹1,440, based on views from several analysts and implying roughly 20–25% potential upside versus recent prices. ^[33]
TradingView’s consensus is similar, with a mean target a little above ₹1,705, a bullish extreme near ₹1,910 and a cautious bound around ₹1,440. ^[34]

Quant and long‑range models

For investors looking beyond a single‑year lens, long‑range algorithmic models (for example, TradersUnion) sketch a more gradual path: ^[35]

End‑2026 price corridor in roughly the ₹1,340–1,640 range.
By 2029, central estimates climbing into the mid‑₹1,700s.

These models are heavily assumption‑driven and should be treated as scenario guides rather than forecasts, but they broadly echo the Street view: ICICI Bank is seen compounding steadily rather than doubling overnight from current levels.

Macro backdrop: GDP surprise keeps banks in focus

The timing of this newsflow matters. Fresh data show India’s Q2 FY26 GDP growth around 8.2%, ahead of many expectations, which has helped push the Nifty 50 above 26,250 and the Sensex towards 86,000 in today’s trade, with bank stocks a key contributor. ^[36]

Private lenders like ICICI generally benefit in such an environment:

Faster credit growth in retail, SME and corporate segments.
Lower system‑wide credit costs, as economic conditions stay benign.
Stronger fee income from cards, wealth products and investment banking.

The flip‑side is that competition for deposits remains intense, as banks fight to fund this growth at acceptable spreads — something analysts have repeatedly highlighted in their commentary on ICICI’s Q1 and Q2 results. ^[37]

Key risks to keep in mind

No blue‑chip story is risk‑free. For ICICI Bank, some of the main watchpoints are:

Funding costs and margins
With deposit rates rising across the system, sustaining a NIM above 4% over the medium term may be challenging if competition intensifies, especially in granular retail deposits. A prolonged squeeze here would cap earnings growth even with solid loan growth.
Asset quality in specific pockets
While headline NPAs are impressively low, segments such as rural lending, certain unsecured retail products and portions of the international book need ongoing monitoring. The bank’s own disclosures show some pressure points, though at currently manageable levels. ^[38]
Regulatory and governance risk
Systemically important banks are perpetually under the microscope of the RBI and global regulators. Capital‑structure moves (like Tier II issuance), intra‑group transactions, and subsidiary governance (e.g., in insurance, AMC, pension) must continue to pass regulatory muster to avoid fines or operating constraints.
Valuation risk
After years of outperformance, ICICI now trades at a clear premium to many state‑owned and mid‑tier private banks, and closer to, though still below, HDFC Bank on valuation multiples. If growth or asset quality were to disappoint, the derating could be sharp.

Bottom line: how does ICICI Bank stock look after today’s updates?

On December 1, 2025, ICICI Bank remains exactly what benchmark investors expect it to be: a high‑quality, high‑liquidity, large‑cap compounder that anchors portfolios, rather than a speculative moonshot.

Near‑term, the ₹1,400 zone is a key battleground, as both technical levels and option positioning cluster there. ^[39]
Medium‑term, Street targets in the ₹1,500–1,900 band assume continued double‑digit loan growth, RoA around 2.3–2.4% and stable asset quality. ^[40]
Strategically, today’s news on capital raising, pension‑fund consolidation and the ICICI group AMC IPO strengthens the ecosystem of fee‑generating businesses around the bank, supporting more diversified earnings. ^[41]

For investors, the core question is less “Is ICICI Bank a good bank?” — the recent numbers leave little doubt on that front — and more “How much of that quality is already in the price?”