Gitanjali Gems shares tank 5%; PNB settles at Rs 101

Gitanjali Gems shares tank 5%; PNB settles at Rs 101

Gitanjali Gems shares tank 5%; PNB settles at Rs 101

Shares of Gitanjali Gems plunged further  on Thursday and settled with losses of over 5% after the Enforcement Directorate (ED) said it has attached 41 properties, valued at over Rs 1,200 crore, in connection with the PNB case.

Shares of the company slumped to its lower circuit limit, down 5%, to hit a 52-week low of Rs 20.30. This is the 12th straight session of fall for the stock. It has lost as much as 65.35% since February 14, the day the PNB fraud came to light. On the NSE, the stock was quoted at Rs 20.25.

Shares of PNB settled marginally down at Rs 101.00 on the BSE. On NSE, the stock settled for the day at Rs 100.80, down 0.59%. Meanwhile, the BSE  Sensex  dropped by over 137 points or 0.40% to close at 34,046.94  on Thursday to extend losses for the third day in a row as fiscal deficit worries and global sell-off triggered by US Fed rate hike fears continued to unsettle investors despite positive macro data.

Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases.

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