ICICI Bank share price gains on value-buying, cheaper than HDFC Bank

Written by Reuters | Updated: Jan 7 2014, 17:33pm hrs
ICICI BankA municipal worker walks past a logo of ICICI Bank at its headquarters in Mumbai. (Reuters)
ICICI Bank share price gains 1.4 percent on value-buying after falling nearly 5.3 percent over the previous four sessions, dealers say.

The bank's shares have fallen nearly 14 percent since its six-month high at 1,206.60 rupees on December 9.

ICICI Bank trades at 1.5 times of 12-month forward book value, almost half the valuation of its counterpart HDFC Bank which trades at 3.2 times, Thomson Reuters StarMine data shows.