IBN (ICICI) has exposure in Kingfisher Airline, 2nd in India Airline carrier, IBN has 10% stake, which has liquidation problems, 50% flight grounded this week....However this problem will fix, over all IBN has long term growth....I am buying it.
Apparently, ICICI has some investment in Kingfisher Airlines in India (About $80 mn). That airline is at the verge of bankruptcy and ICICI is about to loose its investment. I wonder if thats the reason. I know its dropping in India for the same reason.