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

The stock dipped 6% in past two trading sessions after media report suggested that the bank's MD & CEO Chanda Kochhar was summoned by the SFIO in PNB scam

ICICI Bank dipped 3.3% to Rs 285 on the BSE on Wednesday in early morning trade, extending Tuesday’s 2.6% decline after media reports suggested that the bank’s Managing Director and Chief Executive Officer Chanda Kochhar was summoned by the Serious Fraud Investigation Office (SFIO) in Punjab National Bank (PNB) scam.

The stock of private sector lender is trading at its lowest level since October 24, 2017. In past six trading sessions, it fell 13% from Rs 327 on February 26, 2018, as compared to 3.6% decline in the S&P Sensex.

ICICI Bank Managing Director and Chief Executive Officer