Shares of Prakash Industries and J Kumar Infraprojects nosedived 20 per cent and locked in lower circuit on the Bombay stock Exchange amid surge in volume trade even after Securities Appellate Tribunal (SAT) on Thursday stayed restrictions imposed by the Sebi on duos. According to data available with exchange, as much as 0.75 lakh shares of Prakash Industries have changed hand on the counter as compared to two week average of 4.02 lakh shares.
Extending previous session losses, shares of the company declined as much as 20 per cent to hit intra-day low of Rs 111.20 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 111.20 against previous close price of Rs 139.00. In a similar fashion, shares of the company were trading 19.99 per cent higher at Rs 111.45 apiece on the National Stock Exchange. Stocks of J Kumar Infraprojects also plunged 20 per cent and locked in lower circuit at Rs 226.95 apiece on the BSE. Meanwhile, the broader benchmark BSE Sensex was trading at 31,317.47, down 213.86 points, or 0.68 per cent, at 12:58 hours.