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ICICI Bank (IBN) Jumps: Stock Rises 9.2%

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ICICI Bank Limited (IBN - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $9.55 –$10.78 in the past one-month time frame, witnessed a sharp increase yesterday.

The move came after reports that the private sector lender has posted an improvement in asset quality. Its board has also decided to revoke financial entitlements of the former CEO after an investigation revealed violation of internal policies.

The company's Zacks Consensus Estimate for the current quarter has moved higher over the past few weeks, suggesting that more solid trading could be ahead for Tailored Brands. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

ICICI Bank currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

ICICI Bank Limited Price

Investors interested in the Banks - Foreign industry may consider HSBC Holdings plc (HSBC - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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