HDIL stock crashes 22% as selling spree continues
Chennai: Selling seemed to be unabated for the stock of Housing Development and Infrastructure Ltd. After witnessing a crash of over 14 per cent, the HDIL stock lost another 22 per cent in early trade on the BSE on Thursday. The stock is currently trading at Rs 75.05, down 22.03 per cent.
The stock has been at the receiving end, ever since NSE disclosed that Sarang Rakesh Wadhwan, one of its promoters, offloaded part of his stake in the market. Promoters, who hold 37.36 per cent stake in the company, have pledged their entire holding with financial institutions. It is not immediately known whether the financial institutions are also selling their stake.
Expressing serious concern over the ongoing protests in Andhra Pradesh, following the nod for the creation of a separate Telangana State, the Communist Party of India (CPI) leader D Raja said that the Centre must address the genuine concerns of the people and assure them that their interests will be duly protected.
Date 06-12-13, Duration 2:11, Views 719