ICICI Bank stock posts biggest single-day drop in nearly three years

Shares of the country's third-largest lender closed at Rs 261.9, down Rs 16.5, or 5.93% on the BSE

The ICICI Bank stock posted its biggest single-day drop in nearly three years amid the ongoing investigations into its lending practices. 

Shares of the country’s third-largest lender closed at Rs 261.9, down Rs 16.5, or 5.93 per cent on the BSE, the most since August 24, 2015. The market valuation eroded by Rs 104.52 billion to Rs 1.68 trillion on the BSE. The fall came against the backdrop of the Central Bureau of Investigation (CBI) launching a preliminary enquiry into alleged links between ICICI Bank’s Chief Executive Officer Chanda Kochhar (pictured) and the Videocon group. 

The ICICI Bank stock has