Published on 7/12/2017 11:40:37 AM | Source: Dion Global Solutions Ltd

IRB Infra extends loss; scrip tumbles 7%

Shares of IRB Infrastructure Developers continued losing streak on Thursday and plunged over 7 per cent on the Bombay Stock Exchange amid spurt in volume trade after the Central Bureau of Investigation (CBI) filed a charge sheet against senior officials of the company in the matter related to an alleged illegal purchase of government land by its subsidiary, Aryan Infrastructure Investments Private Limited (AIIPL).

According to data available with exchange, as much as 5.97 lakh shares have changed hand over the counter as compared to two-week average of 1.64 lakh shares. Weighed down by the development, shares of company declined as much as 7.28 per cent to touch an intra-day low of Rs 194.70 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 5.63 per cent lower at Rs 197.90 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,836.18, up 239.00 points, or 0.73 per cent, at 11:15 hours.