ICICI Bank Share Price Today: Stock Slips on AMC Stake Move, but Analysts See 20

ICICI Bank Limited (ICICIBANK on NSE, 532174 on BSE; IBN on NYSE) is trading softer on December 10, 2025, even as domestic and global analysts remain broadly bullish on the stock’s medium‑term prospects.

By mid‑afternoon, ICICI Bank shares were changing hands at around ₹1,360–1,370, down roughly 1% versus the previous close, after moving in a day range of about ₹1,358–1,380 on the NSE. Turnover is healthy but lower than the recent 20‑day average, and the stock is consolidating just above third‑party estimates of its “intrinsic value.” ^[1]

At the same time, global investors looking at the New York–listed ADR (ticker IBN) see a similar picture: the ADR is trading near $30–31, well below average 12‑month price targets clustered around $38–40. ^[2]

Below is a breakdown of what’s moving ICICI Bank today, the latest forecasts, and how the Street is reading the stock heading into 2026.

ICICI Bank share price today (10 December 2025)

Spot action and trading metrics

Price and intraday range (India):
- Mint’s live tracker shows ICICI Bank at ₹1,360.75 as of 14:28 IST on December 10, down 1.03% on the day, with an intraday range of ₹1,357.8–₹1,379.5 and combined NSE/BSE volume of about 5.5 million shares versus a 20‑day average of about 11 million. ^[3]
- ET Now’s live market blog earlier in the session recorded an open at ₹1,377.9, intra‑day high of ₹1,379.4, low of ₹1,369.1, and volume of around 2.23 million shares by midday, with the stock down ~0.4% at that point. ^[4]
Recent performance and volatility:
- Over the last month, ICICI Bank has delivered approximately +2.4% returns, but its three‑month and six‑month returns are slightly negative (around ‑2–4%), according to The Economic Times liveblog. ^[5]
- On a one‑year basis, the stock is up only about 3–4%, meaning 2025 has been more of a grind than a sprint. ^[6]
- ET’s data pegs the bank’s six‑month beta near 1.4, signalling that ICICI Bank tends to move more than the broader market in either direction, while Mint shows a trailing beta closer to 0.96 depending on the look‑back window and methodology. ^[7]
Valuation snapshot:
- Mint lists ICICI Bank’s trailing P/E at ~17.9×, versus a sector P/E around 9.3×, implying a valuation premium to the broader banking pack. ^[8]
- Business Standard’s quote page puts the market capitalisation at around ₹9.8–9.9 lakh crore at today’s levels. ^[9]
ADR (IBN) context:
- MarketWatch data shows the ADR trading around $30.3–30.6 with a 52‑week range of about $27.4–34.6 and a market cap above $110 billion. ^[10]

In short: price is soft today, but nowhere near panic levels—this is more a consolidation phase after a strong multi‑year run than a breakdown.

What’s driving ICICI Bank stock this week?

1. Additional 2% stake in ICICI Prudential AMC ahead of IPO

The big near‑term trigger is ICICI Bank’s move to deepen its stake in ICICI Prudential Asset Management Company (ICICI AMC):

The bank has signed a share purchase agreement with Prudential Corporation Holdings Ltd to buy an additional 2% stake in ICICI AMC for about ₹2,140 crore, on an arm’s‑length valuation vetted by an independent valuer. ^[11]
The deal is aimed at maintaining ICICI Bank’s majority shareholding in the AMC, especially as the asset manager uses stock‑based compensation for employees. The RBI granted approval in September for the bank to raise its stake by up to 2%, subject to regulatory conditions. ^[12]
The announcement comes just before ICICI Prudential AMC’s planned ₹10,600‑crore IPO, which opens on 12 December 2025, structured as a 100% offer for sale by Prudential—no fresh equity is being issued. ^[13]

Market reaction has been mildly negative in the short term:

Moneycontrol reported that on December 9, ICICI Bank shares were down about 0.5% in early trade to around ₹1,382.3, even though the stock remained up more than 8% year to date at that point. ^[14]
The stake purchase is capital‑intensive in the near term, which can dampen sentiment on capital efficiency, even if investors like the long‑term fee‑income story.

On the flip side, the AMC is described as India’s second‑largest mutual fund house, with robust revenue and profit numbers for H1 FY26. ^[15] For long‑term holders, this can be read as value unlocking plus tighter control over a profitable subsidiary, rather than a pure cost.

2. ESOP issuance and capital structure

Another small but noteworthy development:

ICICI Bank has allotted about 503,178 equity shares of face value ₹2 each on 9 December 2025 under its employee stock option scheme. ^[16]

The incremental dilution is tiny relative to the huge equity base, but these recurring ESOP allotments matter to investors following:

Share‑based compensation trends
Alignment of management incentives with shareholder interests

3. Regulatory and reputational noise

The RBI ombudsman recently pulled up ICICI Bank and a co‑lending partner over procedural and KYC lapses in a small retail loan case involving a deceased borrower; both lenders were directed to compensate the family and adjust the loan against insurance proceeds. ^[17]
ICICI Bank’s spokesperson said the bank, together with the partner and insurer, has fully settled the loan, closed the account and returned original documents in line with the ombudsman’s order. ^[18]

Episodes like this do not change the investment thesis by themselves, but they remind investors that compliance, KYC and conduct risks are not abstract in large retail franchises.

4. Investor‑relations calendar

ICICI Bank has also announced it will participate in Citi’s India Financials Tour 2025 on December 15, an in‑person investor event where management will present using publicly available information. ^[19]

Such roadshows keep foreign and domestic institutional investors engaged, which is especially relevant given that:

Mutual fund holdings have ticked up to around 30.8% of equity as of 30 September 2025
FII holdings are still high at about 45.6%, though marginally down from the previous quarter ^[20]

Fundamentals: earnings, asset quality and capital

Q2 FY26 results – steady but not spectacular

ICICI Bank’s latest reported quarter (Q2 FY26, quarter ended September 2025) was solid rather than flashy:

Net profit rose about 5.2% year‑on‑year to roughly ₹12,359 crore. ^[21]
Net interest income (NII) grew around 7.4% YoY, reflecting healthy loan growth but also margin pressures in a falling‑rate environment. ^[22]
Asset quality improved further:
- Gross NPA ratio around 1.58%
- Net NPA ratio near 0.39% ^[23]
Provisions declined by roughly a quarter compared with the previous year, as slippages remained contained and recoveries/write‑offs picked up. ^[24]
The capital adequacy ratio (CAR) strengthened to about 15.8%, giving the bank a comfortable buffer over regulatory minima. ^[25]

Brokerage commentary gathered on Trendlyne generally describes ICICI Bank’s earnings quality as high, with:

Broad‑based loan growth (retail, business and corporate) but some moderation to low‑teens growth
Stable or slightly compressing NIMs after RBI rate cuts
Higher operating costs (technology, distribution, people) tempering profit growth ^[26]

In English: credit costs are behaving, the balance sheet looks clean, but profit growth is no longer a rocket ship every quarter.

Systemic importance and RBI’s D‑SIB tag

ICICI Bank continues to be classified as a Domestic Systemically Important Bank (D‑SIB) by the Reserve Bank of India, alongside State Bank of India and HDFC Bank. ^[27]

ICICI is placed in Bucket 1, which requires an additional 0.20 percentage point of Common Equity Tier‑1 (CET1) capital over and above Basel III norms. ^[28]

For investors, the D‑SIB tag has two main implications:

Stricter oversight and higher capital buffers – this is a mild drag on RoE at the margin.
Implicit “too big to fail” perception – which can support funding costs and deposit franchise quality.

How analysts and models value ICICI Bank stock

Here’s where it gets interesting: fundamental and market‑based models are broadly aligned in seeing upside from current levels.

Domestic share (ICICIBANK) – broker targets

Investing.com’s consensus for the India‑listed stock collates about 39 analyst targets with an average 12‑month price target near ₹1,690–1,700, with a high around ₹1,910 and low near ₹1,440. The consensus rating is “Strong Buy.” ^[29]
Trendlyne’s brokerage summary shows an average target of roughly ₹1,641, implying about 20% upside from a reference price in the mid‑₹1,360s, based on 28 reports from 11 analysts. ^[30]
Mint’s data adds that 37 analysts currently cover the stock, with 17 assigning “Strong Buy” and 18 “Buy”—no Sell ratings as of today. ^[31]

The broad message from the Street: “quality private bank with room to rerate modestly as earnings compound.”

ADR (IBN) – global price targets

On the ADR listed in New York:

Investing.com reports that 4 analysts follow the ADR with a “Strong Buy” consensus, an average 12‑month target of about $40.05, and a range of $38–42—roughly 32% upside from the current price around $30.4. ^[32]
MarketWatch / WSJ data, aggregating around 44 ratings, shows an average target near $38.6, with a high around $43.1 and low near $32.5, again implying upside in the high‑20s percentage range from current levels. ^[33]
A recent Zacks / Nasdaq note highlighted a mean price target of $40, representing about 30.8% upside, with individual targets between $39 and $42, and pointed out that earnings estimate revisions have been trending positively. ^[34]

Intrinsic value and fair‑value models

Quant‑style “fair value” tools aren’t in perfect agreement, but they’re not screaming overvaluation either:

Smart‑Investing’s intrinsic value tool estimates a median fair value around ₹1,344 per share as of December 9, 2025, based on a blend of EV/EBITDA, EV/Sales and Price/Sales models (with one model yielding a fair value closer to ₹1,648, another nearer ₹935). ^[35]

With the stock trading near ₹1,360, that median fair‑value model basically says: “priced roughly around fair, not obviously cheap, not egregiously expensive.” The Street’s targets, however, assume continued earnings compounding and some rerating, hence the 20–30% upside forecasts.

Trading dynamics: liquidity, derivatives and market backdrop

MarketsMojo and other trading analytics platforms have repeatedly flagged ICICI Bank as one of the most active stocks by value, often clocking traded values well over ₹200 crore in a day and strong delivery volumes. ^[36]
On December 9, delivery volumes reportedly reached over 6.6 million shares, underlining sustained institutional interest even as price action turned range‑bound. ^[37]
Option‑based indicators such as the put–call ratio (PCR) for ICICIBANK show ongoing derivatives activity, but the readings are in “normal” territory rather than at extremes that would scream euphoria or capitulation. ^[38]

In the broader market:

Benchmark indices like the Nifty 50 and Sensex were trading lower on December 10 amid global caution ahead of an upcoming US Federal Reserve rate decision, with banking stocks among the drags, according to live coverage by multiple business channels. ^[39]

In short, ICICI Bank’s price weakness today is as much about sector and macro jitters as it is about stock‑specific news.

Key risks and watch‑points for 2026

Even a market darling with “Strong Buy” plastered everywhere comes with real risks. For ICICI Bank, important watch‑points include:

Margin compression:
RBI rate cuts and intense competition for deposits can squeeze net interest margins (NIMs). Recent broker notes already highlight a few basis points of NIM pressure. ^[40]
Loan‑growth normalization:
After several years of rapid retail and SME growth, recent quarters show loan growth moderating into the low teens, especially in mortgages and unsecured retail. Slower growth can cap upside unless margins or fee income surprise positively. ^[41]
Regulatory and conduct risk:
From the D‑SIB designation (which raises capital needs) to ombudsman rulings on individual cases, the bar for governance and compliance is high—and getting higher. ^[42]
Subsidiary execution (especially ICICI AMC):
The AMC IPO, stake changes and future governance at ICICI Prudential AMC will be watched closely. Missteps could alter the value‑unlocking narrative that currently underpins some of the bullishness. ^[43]
Global risk‑off and FII flows:
With foreign ownership above 45%, ICICI Bank is exposed to any sharp risk‑off phase in emerging markets that leads to FII outflows, independent of fundamentals. ^[44]

Bottom line: how to read ICICI Bank stock now

Pulling everything together:

Near‑term price action:
The stock is drifting lower today in a choppy market, partly on the back of the ICICI AMC stake purchase and broader banking sector softness. The move is orderly, not panic‑driven, with volumes well within normal ranges. ^[45]
Fundamentals:
Profits are still growing, but at mid‑single‑digit to low‑double‑digit rates, asset quality is arguably among the strongest in the sector, and capital buffers are robust. ^[46]
Valuation:
At about 18× trailing earnings, ICICI Bank trades at a premium to the banking sector, but not wildly out of line for a systemically important private bank with sub‑2% gross NPAs and a long runway in retail and SME lending. ^[47]
Street view:
Between domestic brokers and global houses, the consensus is decidedly bullish, with 20–30% implied upside over 12 months on both the local share and the ADR—though even Zacks and Nasdaq explicitly caution that analyst targets are often overly optimistic and should be just one input into an investment decision. ^[48]
Modelled fair value:
Quant models that try to estimate “intrinsic value” cluster ICICI Bank not far from its current price, suggesting the stock is roughly fairly valued on conservative assumptions and requires continued earnings growth to justify the Street’s higher targets. ^[49]

For investors, the story right now is less about “Is ICICI Bank broken?” and more about “How much of the high‑quality franchise is already in the price?”

Any decision to buy, hold or sell should factor in:

Your time horizon
Risk tolerance (ICICI does swing more than the index at times)
View on Indian credit growth, interest‑rate trajectory and regulatory regimes

References

Poland Stock Market Today: WIG20 Holds Above 3,000 After NBP Rate Cut and Ahead of Fed Decision (10 December 2025)

Euronext Amsterdam Today: AEX Edges Lower as Aegon Slumps and Magnum Ice Cream Joins Benchmark – 10 December 2025

Swiss Stock Market Today, December 10, 2025: SMI Slips Below 12,900 Ahead of Pivotal Fed Rate Decision

British American Tobacco (BATS, BTI) Extends £1.3bn Buyback and Reaffirms 2026 Guidance – What It Means for the Stock Now

ICICI Bank Share Price Today: Stock Slips on AMC Stake Move, but Analysts See 20–30% Upside