Prakash Ind down 5% on report of ED filing chargesheet in coal scam cases

The stock locked in lower circuit of 5% at Rs 125 on the BSE with only sellers were seen on the counter after the media report suggested that ED filed charge- sheets in seven coal scam cases.

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SI Reporter Mumbai
Last Updated : Jul 19 2018 | 1:58 PM IST
Prakash Industries has locked in lower circuit of 5% at Rs 125 on the BSE with only sellers were seen on the counter after the media report suggested that Enforcement Directorate (ED) filed charge sheet in seven coal scam cases.

Till 01:19 pm; a combined 66,204 equity shares changed hands and there were pending sell orders for 1.09 million shares on the BSE and NSE, the exchanges data shows.

“We categorically state that we are unaware of any charge sheet having seen filed by the Enforcement Directorate as described in the news item published in the Economic Times referred to by you. That being so, the question of disseminating any information to the exchange does not arise,” Prakash Industries said on clarification on news report to BSE.

We, however, will inform the exchange, if and when, we do receive any information on the matter, it added.

Ace investor Rakesh Jhunjhunwala holds 2.5 million or 1.5% stake in Prakash Industries as on June 30, 2018, the shareholding pattern data shows.

In past one month, Prakash Industries slipped 26% as compared to 3% rise in the S&P BSE Sensex. It plunged 55% from its 52-week high of Rs 276 touched on January 1, 2018 in intra-day trade.

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