IRB Infrastructure plunges over 16% on trading volume

Posted By: Religare
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Shares of Mumbai-based construction company IRB Infrastructure crashed over 16 per cent in early trade on Bombay Stock Exchange (BSE) amid trading volume.

A combined 13.55 lakh shares have changed hands on the counter in early trade against an average of 1.56 lakh shares traded on daily basis on BSE.

The weakness is seen in all the infra stocks after the rupee slumped to a record low which is likely to hit their margins.

Continuing its losing streak, shares of company declined as much 16.25 per cent and was trading at Rs 87.85 a piece on the BSE.

In a similar fashion, shares of the company were trading at 87.65 a piece, down 16.47 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 18,524.21, down 16.88 points or 0.09 per cent at 10:40 hours.

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