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ICICI Bank rises in weak market

September 10, 2009

A man counts money after withdrawing it from an ATM in Jammu October 14, 2008. REUTERS/Amit GuptaShares in ICICI, India’s top private sector bank, gained 3.12 percent on Thursday in a market that ended just 33 points higher.

The banking index rose over 1 percent helped by gains in ICICI Bank, which also ended as the top Sensex gainer.

Its shares, which ended at 815 rupees, have gained 145 percent since April.

However, analyst Sudarshan Sukhani says ICICI Bank is likely to underperform, given that it is a beaten down stock.

Would you put your money in this stock, or wait for a correction?

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