ICICI Surges Most Since March on Essar Debt-Recovery Hopes

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  • Refinery sale will help to repay $5 billion of debt, Ruia says
  • ‘Significant step’ in deleveraging of Indian corporates: ICICI

ICICI Bank Ltd., India’s largest private-sector bank, rose the most in seven months in Mumbai trading on optimism the lender will recover some of its loans to the Essar Group.

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