NSE: ICICIBANK · 6 October 2026
- ICICI Bank Ltd. shares moved higher during Tuesday's trading session, gaining 0.81% to trade at ₹1,342.80 compared to its previous close of ₹1,332.00. The stock opened at ₹1,330.50 and moved within an intraday range of ₹1,328.10 and ₹1,343.40.
- ICICI Bank announced that it received a show cause notice under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner, CGST and C. Ex, Mumbai East Commissionerate. The notice entails a GST demand of ₹229,14,35,396, along with applicable interest and penalties, concerning services extended to customers maintaining specified minimum balances. The bank noted that it is already engaged in litigation and writ petitions regarding similar past matters and intends to submit its response within the stipulated timelines.
- Trading volume was 1.36 times the 20-day average daily volume.
Why is Icici Bank share price rising on 6 October 2026?
ICICI Bank Ltd. shares moved higher during Tuesday's trading session, gaining 0.81% to trade at ₹1,342.80 compared to its previous close of ₹1,332.00. The stock opened at ₹1,330.50 and moved within an intraday range of ₹1,328.10 and ₹1,343.40.
The broader market demonstrated positive momentum, with the benchmark Nifty rising 0.98% during the session. ICICI Bank's price movement remained largely aligned with overall market sentiment.
On the corporate and regulatory front, the bank recently disclosed receiving a show cause notice under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, involving a demand of ₹229,14,35,396 along with interest and penalty related to services provided to customers maintaining specified minimum balances. While the bank handles similar litigations in the ordinary course of business, this disclosure coincided with recent management transitions across group entities, such as the upcoming leadership changes at ICICI Life Insurance. These updates provide background context for ongoing market observation but do not represent a direct catalyst for today's price movement.
1.21 crore shares traded by 6 October 2026 · 03:10 PM IST. This compares with a 20-day average daily volume of 88.57 lakh shares (1.36 times). The five-day average daily volume was 1.11 crore shares. Separately, the NSE report for 5 October 2026 showed 81.27 lakh shares delivered, representing 61.46% of that day’s traded volume. The same report recorded 165,406 trades.
The 0.81% advance reflects steady buying interest amid elevated cash volume that exceeded 20-day averages, alongside positive broader market alignment with the Nifty benchmark. No single operational event serves as an immediate catalyst for today's price action.
Latest Company Developments
ICICI Bank announced that it received a show cause notice under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner, CGST and C. Ex, Mumbai East Commissionerate. The notice entails a GST demand of ₹229,14,35,396, along with applicable interest and penalties, concerning services extended to customers maintaining specified minimum balances. The bank noted that it is already engaged in litigation and writ petitions regarding similar past matters and intends to submit its response within the stipulated timelines.
This highlights ongoing regulatory and tax compliance litigations that cross the bank's materiality threshold, requiring formal disclosure to stock exchanges.
The board of directors of ICICI Life Insurance recorded the resignation of Mr. Anup Bagchi as Managing Director and CEO, effective from the close of business hours on October 13, 2026. Concurrently, Mr. Sidharatha Mishra was appointed as Chief Operating Officer effective October 6, 2026, and as Managing Director and CEO designate effective October 14, 2026, subject to regulatory approvals. Consequently, Mr. Mishra stepped down from his responsibilities at ICICI Bank and ceased to be a Senior Management Personnel of the bank from October 5, 2026.
This outlines senior management realignment within the broader ICICI financial services group, affecting executive assignments at the parent bank.
ICICI Bank filed an amendment to its Annual Securities Report previously submitted on September 18, 2026, to the Director of the Kanto Regional Finance Bureau in Japan. The filing adjustment updated specific regulatory references regarding the reconciliation of consolidated financial statements from Indian GAAP to U.S. GAAP pursuant to Japanese financial instruments legislation. The amendment ensures ongoing compliance for international listings and foreign disclosures.
It reflects adherence to overseas regulatory reporting standards for entities maintaining cross-border depository listings.
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Ownership & Transaction Activity
Mutual Fund Holdings
Mutual funds held 29.60% on 30 June 2026. This compares with 27.83% on 31 March 2026, a change of +1.77 percentage points.
The filing reported 64 MF/UTI holders.
Research & Brokerage Views
Maintained a top 'Buy' rating in the banking space with an anticipated upside target of ₹1,550.
Recommended buying select private banking stocks including ICICI Bank while adopting a cautious stance on select public sector lenders.
Identified ICICI Bank among top banking stock recommendations for short-to-medium-term appreciation.
Historical Bulk / Block Deals
What to Watch Next
- Upcoming announcement of standalone and consolidated financial results for the quarter and six months ending September 30, 2026
- Developments regarding ongoing tax and regulatory inquiries, including responses to recent GST show cause notices
- Delivery volume trends and cash market participation relative to the 20-day average volume
- Progress on senior management and leadership transitions within group subsidiaries
Other Dated Coverage
More Icici Bank news and dated analysis →
Frequently Asked Questions
What is the latest Icici Bank company news?
ICICI Bank announced that it received a show cause notice under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner, CGST and C. Ex, Mumbai East Commissionerate. The notice entails a GST demand of ₹229,14,35,396, along with applicable interest and penalties, concerning services extended to customers maintaining specified minimum balances. The bank noted that it is already engaged in litigation and writ petitions regarding similar past matters and intends to submit its response within the stipulated timelines.
How strong was Icici Bank’s trading volume?
1.21 crore shares traded, 1.36 times the 20-day average daily volume. The price and volume data are dated 6 October 2026 · 03:10 PM IST.
Do the mutual-fund figures show buying today?
They show holdings on 30 June 2026. Quarterly holdings do not identify purchases made on the article date.
Article by: WittyTrades Research Desk
Disclaimer: Investments in securities markets are subject to market risks. Registration with SEBI and NISM certification do not guarantee performance or returns. This article is for information and education, not personalised investment advice or a recommendation to buy, sell or hold.