Internet and ecommerce company Infibeam Avenues' shares plunged further, posting its biggest intra-day fall on Friday. At 2.12 pm, shares traded at Rs 73.25, falling nearly 64 percent, after opening at Rs 180.35.
Meanwhile, equity indices traded negative, erasing opening gains. Meanwhile, benchmark indexes plunged as selling took over in financials. The Nifty traded lower by 66 points, or 0.60 percent, to trade at 10,912 at 2.15 pm, while the Sensex traded at 36,216, down by 108 points, or 0.30 percent.
(Market update as of 2.15 pm)
Infibeam shares plunge more than 52 percent
Internet and ecommerce company Infibeam Avenues' shares plunged more than 52 percent to hit a one year low of Rs 86.30 on Friday.
Infibeam shares were the worst hit on the Nifty 500 index.
At 10.10 am, shares traded at Rs 86.85 after opening at Rs 180.35.
“There is no pending information or announcement from the company which may have a bearing on the price behaviour in the scrip,” the company said in an exchange filing following the sudden crash in stock.
Meanwhile, equity indices traded negative, erasing opening gains.
The Nifty traded lower by 20 points, or 0.19 percent, to trade at 10,957, while the Sensex traded at 36,299, down by 25 points, or 0.07 percent.
Also, catch all the action and updates in our Market Live blog.
First Published: IST