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Indian Banking Stock Reclaims Support Line.(B)(NYSE STOCKS IN THE NEWS)
Byline: Craig Shaw
Icici Bank posted its sixth straight up day Thursday. The stock climbed back above its 50-day moving average this week as it etches a three-month base. Down weeks on above-average volume still edge out up weeks in its current pattern.
The Indian commercial banker boosted profit an annual 67% the past three years. The firm's two-year earnings growth rate is an even stronger 158%. Annual EPS growth is seen decelerating to 31% in fiscal 2004 and 6% in 2005.
News that India's gross domestic product rose 10.4% in the third quarter helped lift Indian bank stocks on Wednesday. Icici's up/down volume ...
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