BackICICI Bank sees heavy volatility; down 6% in morning trade
ICICI Bank sees heavy volatility; down 6% in morning trade
PremiumMumbai: Shares of the country’s biggest private sector lender, ICICI Bank, on Monday witnessed heavy volatility and fell 6% in early trade on the Bombay Stock Exchange, amid the company reporting a dismal performance in the fourth quarter (Q4).
Shares of the company opened on a weak note at Rs420, then dipped further to its day’s low of Rs405, down 6.35% from its previous closing price.
On the National Stock Exchange, the scrip opened at Rs425, then lost further ground and touched its intra-day low of Rs411.10, a fall of 5.29% from its last closing price.
However, it soon recovered its lost ground and was trading in the positive zone in both the bourses. On the BSE it was quoted at Rs433.05, up 0.13% and on the NSE, it was trading at Rs438.25, up 0.96%.
On the volume front, more than 43 lakh shares exchanged hands on both the bourses.
On 25 April, ICICI Bank announced its results for the fourth quarter (Q4) ended 31 March 2009. The company reported a 35.30% decline in net profit and total income during the quarter stood at Rs9,203 crore compared to Rs10,391 crore in the same period last year.
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