ICICI Bank hits over four-month low; falls 13% in six trading days

ICICI bank dipped 3.3% to Rs 285 on the BSE on Wednesday in early morning exchange, extending Tuesday’s 2.6% decline after media reports suggested that the financial institution’s coping with Director and chief govt Officer Chanda Kochhar become summoned with the aid of the extreme Fraud investigation workplace (SFIO) in Punjab countrywide financial institution (PNB) rip-off.
The inventory of private area lender is buying and selling at its lowest level because October 24, 2017.

In beyond six buying and selling periods, it fell thirteen% from Rs 327 on February 26, 2018, compared to three.6% decline in the S&P Sensex.
ICICI financial institution handling Director and leader govt Officer Chanda Kochhar and her Axis bank counterpart Shikha Sharma have been on Tuesday summoned with the aid of the SFIO in reference to the Rs 127-billion PNB fraud concerning absconding diamantaire Nirav Modi and his uncle Mehul Choksi.

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