Shares of Infibeam Avenues rallied 20 per cent, paring early losses, in early trade on Bombay Stock Exchange after the company clarified that all the material information “that have a bearing on the operation/performance of the company which include all price sensitive information have always been disclosed within the stipulated time.”
Early today, stocks of the company opened higher at Rs 64.65 apiece against previous closing price of Rs 58.80 but soon slipped into negative terrain and touched a low of Rs 38.40.
Following the announcement, shares of company gained as much as 20 per cent and touched an intra-day high of Rs 70.55 apiece on the Bombay Stock Exchange.
In a similar trend, stocks of the firm were trading at Rs 66.40 apiece, up 13.60 per cent, on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 36,158.77, down 68.37 points, or 0.19 per cent, from the previous close on the BSE at 9:55 hours.