ICICI Bank falls 5% as ED initiates enquiry in ICICI-Videocon loan

ICICI Bank hit five-month low, down nearly 5% on the BSE after the media reports suggested that the Enforcement Directorate (ED) has started an enquiry into the Rs 32.50-billion loan sanctioned to the Videocon group and others by ICICI Bank, which was part of a consortium of lenders.

The stock of private sector lender was down 4.6% to Rs 265.40 on the BSE in early morning trade, its lowest level since October 24, 2017. On comparison, the S&P BSE Sensex was trading 0.13% higher at 33,011 points at 09:38 am.

Videocon Industries was locked in lower circuit at