ICICI Bank extends fall; stock down 11% in four days

The stock dipped nearly 4% to Rs 268 in intra-day trade, extending its 7% decline in past three trading sessions on the BSE.

Shares of ICICI Bank have dipped nearly 4% to Rs 268 in intra-day trade, extending its 7% decline in past three trading sessions on the BSE. The private sector lender’s market capitalisation has eroded by Rs 209-billion in four trading sessions, after the bank said another whistle-blower had accused it of having lax controls over operations.

This is the third instance of such complaint. In the first two complaints, the bank’s Managing Director and Chief Executive Officer Chanda Kochhar is facing an inquiry by the board and is on leave till investigations are over. The latest complaint relates to