NEW DELHI: Gitanjali Gems plunged another 10 according to cent to hit its lowest buying and selling permissible prohibit for the day and has suffered an erosion of Rs 419 crore from its market valuation previously one week.
The inventory tumbled nine.85 according to cent to Rs 27.45 -- its lower circuit -- on BSE on Wednesday.
On NSE, stocks of the company declined nine.86 according to cent to Rs 27.40, its cheaper price band.
In 6 buying and selling classes, the inventory plunged over 56 according to cent, eroding Rs 419.four crore from its market capitalisation.
On February 14, Punjab National Bank (PNB) disclosed that it detected fraudulent transactions with financial implication of about Rs 11,346 crore and the matter has been referred to law enforcement businesses for the restoration.
While billionaire jewellery clothier Nirav Modi, the alleged culprit of this fraud, is indirectly linked to any indexed corporate, his relative and trade affiliate Mehul Choksi's Gitanjali Gems is a indexed company.
The inventory tumbled nine.85 according to cent to Rs 27.45 -- its lower circuit -- on BSE on Wednesday.
On NSE, stocks of the company declined nine.86 according to cent to Rs 27.40, its cheaper price band.
In 6 buying and selling classes, the inventory plunged over 56 according to cent, eroding Rs 419.four crore from its market capitalisation.
On February 14, Punjab National Bank (PNB) disclosed that it detected fraudulent transactions with financial implication of about Rs 11,346 crore and the matter has been referred to law enforcement businesses for the restoration.
While billionaire jewellery clothier Nirav Modi, the alleged culprit of this fraud, is indirectly linked to any indexed corporate, his relative and trade affiliate Mehul Choksi's Gitanjali Gems is a indexed company.
PNB fraud: Gitanjali Gems tanks over 56% in 6 days
![PNB fraud: Gitanjali Gems tanks over 56% in 6 days]()
Reviewed by Kailash
on
February 21, 2018
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