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ICICI Bank falls 8% amid changes in management

ICICI Bank falls 8% amid changes in management
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First Published: Tue, Apr 21 2009. 06 30 AM IST
Updated: Tue, Apr 21 2009. 01 47 PM IST
Mumbai: The country’s second largest lender, ICICI Bank, on Tuesday dipped over 8% 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 Rs391.30, down 8.28% over the previous close.
On the Bombay Stock Exchange, shares of ICICI Bank opened on a weak note and plunged 5.93% to an intra-day low of Rs401.25 on the BSE.
On both the bourses, 66 lakh shares changed hands.
Marketmen said the scrip is in weak trajectory because of bearish trend in the broader market, resignations of two of its business heads.
Two business heads - Renuka Ramnath and Shikha Sharma resigned from ICICI Group - ahead of change of guard at the top-most position, On Monday, which Chanda Kochhar will occupy from 1 May.
The scrip was later quoting at Rs406, down 4.82% on the BSE, while it was down 4.91% at Rs 405.70 on the NSE.
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First Published: Tue, Apr 21 2009. 06 30 AM IST
More Topics: ICICI Bank | Shares | Markets | BSE | NSE |