Indian markets and the Dalal street have once again proved its a sheep market rather than anything. Our investors react in a kneejerk fashion to any news or rumour. Though ICICI has exposures to US funds the percentage of exposure to these global funds very minimal and considering the market share ICICI commands in India, It is hard to imagine anything more happening to this company.
RBI reviewed its investment portfolio on bankruptcy of Lehman and found no major risk in ICICI.
For a medium term investment ICICI is best bet as it is at its lowest rate in last few years.
I dont hold any shares of ICICI but Im seriously looking to buy some.