Kamathspeak lifts ICICI Bank Scrip

DALAL STREET SPIKES

ICICI Bank (ICICI) jumped 16.71 per cent to close at Rs 425.10, after MD and CEO K V Kamath reiterated that the bank does not face a liquidity problem as it holds Rs 90,000 crore in government securities, while its global subsidiaries are sitting on cash amounting to $2.5 billion.

According to reports, the bank filed complaints against some brokers for spreading rumours and causing the recent downfall in the bank’s share price. The stock hit an intraday high of Rs 454.95 and a low of Rs 386.10. Total shares traded were 1,12,80,948 (twice its two-week average). The scrip has slipped 35 per cent in the last one month.