ICICI Bank trades lower for third straight day; hits over two-month low

ICICI Bank was trading lower for the third straight day, down 2.7% to Rs 305, an over two-month low on the BSE in intra-day trade on Thursday.
The stock of private sector lender hit its lowest level since December 12, 2017. In past three trading sessions, ICICI Bank was down 6.7% against 0.89% decline in the S&P BSE Sensex.
ICICI Bank on Wednesday after market hours said that the Bank is a part of the working capital lender consortium in the Gitanjali group of companies along with several other banks wherein its exposure is not the largest.

“The bank has no exposure to the Nirav Modi’s group of companies, nor has the Bank issued any Letter of Undertakings (LOUs); nor has any buyer’s credit exposure against LOUs  with respect to the Nirav Modi group of companies as well as the Gitanjali group of companies,” ICICI Bank said on clarification with reference to the media report titled, "ICICI Bank has exposure to Gitanjali Group, not Nirav Modi firms; CBI questions bank's executive director".