Essar Group stocks, including Essar Shipping and Essar Oil, are trading at one-year lows after the Central Bureau of Investigation (CBI) filed a charge-sheet in the 2G spectrum case against eight persons and entities, including the vice-chairman of Essar Group, Ravi Ruia.
India’s top investigating agency filed charges in a Delhi court against industrialist Ravi Ruia and Anshuman Ruia, the promoters of Essar Group, its Director for strategy and planning, Vikas Saraf, and Loop promoters IP Khaitan and Kiran Khaitan.
Three of the eight are companies — Essar Teleholdings, Loop Telecom Pvt Ltd and Loop Mobile India Ltd.
Among individual stocks, Essar Oil has plunged 9% to Rs 54.20, Essar Shipping by 8% at Rs 20.20 and Essar Ports by 7% at Rs 54.95 on the National Stock Exchange.
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