ICICI Bank, Lanco shares drop after Perdaman claims damages

Shares of the ICICI Bank and Lanco Infratech dropped after Australia's Perdaman Chemicals and Fertilisers said it has launched a damages claim against ICICI Bank (ICBK.NS).

The company has seeked A$3.5 billion in its ongoing legal battle with India's Lanco Infratech (LAIN.NS) over a stalled fertiliser project, as per Reuters report.

The shares of the ICICI Bank dropped 1.26% to Rs 1165 on BSE at 11.30 am IST.

Lanco Infratech shares slipped 0.75% to Rs 14.63 on BSE. It touched an intra-day low of Rs 14.59.

Earlier, Lanco Infratel won the legal battle against Perdaman Chemicals and Fertilizers on revision of coal supply agreement.

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