Murli Industries tumbles 9.5% on BSE

Shares of Murli Industries fell for the third consecutive session today despite the cement-maker's declaration that market regulator Sebi's directive barring the company and its promoters from trading on the bourses had not affected regular operations.

Murli Industries fell by 9.53 per cent from its previous close to settle at Rs 64.10 on the Bombay Stock Exchange today.

On December 2, market regulator SEBI barred four companies, including Murli Industries, and their promoters from trading in the stock market over alleged violation of market guidelines. Since the order was made public, the company's stock has been under tremendous pressure and has lost over 28 per cent in three straight sessions.

In a filing to the BSE today, Murli Industries today said, "SEBI order does not have bearing on the business operation or financial performance of the company."

However,the company's statement failed to cheer investors and the scrip saw a similar decline on the National Stock Exchange, shedding 9.33 per cent to close at Rs 64.60.

Meanwhile, the 30-share benchmark Sensex finished the day almost flat at 19,981.31, up by just 14.38 points from the previous close.