ICICI Bank plunges 8 pc in early trade | business | Hindustan Times
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ICICI Bank plunges 8 pc in early trade

business Updated: Apr 21, 2009 12:36 IST

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The country's second largest lender, ICICI Bank, on Tuesday dipped over eight per cent on the National Stock Exchange amid changes at the top management level of its group firms. On the NSE, the scrip witnessed an intra-day low of Rs 391.30, down 8.28 per cent over the previous close.

On the Bombay Stock Exchange, shares of ICICI Bank opened on a weak note and plunged 5.93 per cent to an intra-day low of Rs 401.25 on the BSE. On the volume front, 66 lakh shares changed hands on both the bourses.

Marketmen said the scrip is in weak trajectory because of bearish trend in the broader market, resignations of two of its business heads.

On Monday, two business heads Renuka Ramnath and Shikha Sharma resigned from ICICI Group ahead of change of guard at the top-most position which Chanda Kochhar will occupy from May 1.

The scrip was later quoting at Rs 406, down 4.82 per cent on the BSE, while it was down 4.91 per cent at Rs 405.70 on the NSE.