Lanco Infratech hits lower circuit
DSIJ Intelligence / 09 Aug 2017
The shares of Lanco Infratech hit the lower circuit on reports that the NCLT had approved insolvency proceedings against the company.
The shares of Lanco Infratech hit the lower circuit on reports that the NCLT had approved insolvency proceedings against the company. The company has debt of Rs 44,365 crore, as identified by the Reserve Bank of India (RBI).
However, Lanco is yet to receive the formal order of the NCLT. On the NSE, the scrip plunged 4.35% to 1.15 on Wednesday. On the BSE, 4.07 lakh shares were traded on the counter so far as against the daily volume of 4.27 lakh shares on August 9.
The stock had hit an adjusted 52-week high of Rs 5.25 on September 6, 2016 and an adjusted 52-week low of Rs 0.83 on July 14, 2017.
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