BENGALURU, Jan 23 Reuters Shares of India39;s ICICI Bank hit a record 1,059.4 rupees on Tuesday after its thirdquarter profit beat estimates on robust loan growth and margins met expectations.

The private lender rose as much as 5 in the session and was the sole stock posting gains on the Nifty Bank index, which was down 0.7.

ICICI39;s performance is in sharp contrast to that of larger rival HDFC Bank, whose shares declined nearly 14 over the past five sessions after margins declined due to rising cost of deposits and intense competition.

Macquarie Capital said ICICI Bank was now at a 15 premium to HDFC Bank on a core pricetobook value basis.

Mumbaibased ICICI reported a 10 basis point dip in net interest margin NIM to 4.43 from the previous quarter.

While NIM may be strained, ICICI Bank may not see an aggressive NIM dip, unlike some frontline peers, analysts at Elara Capital said in a note.

While banking may be facing strain, ICICI Bank may hold against the tide with steady earnings, they said.

Indian lenders have been consistently reporting doubledigit loan growth over the past few months on increased demand. However, their margins have been squeezed by rising deposit costs.

ICICI reported a record high quarterly standalone net profit of 102.72 billion rupees 1.24 billion in OctoberDecember, compared with analysts39; expectations of 100.25 billion rupees, as per LSEG data.

The bank39;s total loans grew 18.8 from the previous year, largely led by retail loans,…