This is an SMS that I got from a VP of a top brokerage house in India:"Banking sources say ICICI Bank has the largest exposure of over Rs 3000 crore mostly in guarantees for Maytas Infrastructure assuming timely completion of projects it bagged. Work on these projects is said to have come to a standstill for want of working capital. Take care if you hold ICICI."
If this is what a majority of the market gets to hear by Monday, then GOD help the ICICI stock. Only the next few days will tell whether this is a rumor or a fact.
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