Repco Home Finance dips on report of CBI raid
The stock dipped 7.8% to Rs 760 on the BSE in intra-day trade on back of heavy volumes.
 "Repco Home Finance dips on report of CBI raid")
Repco Home Finance has dipped 7.8% to Rs 760 on the BSE in intra-day trade on back of heavy volumes after the media report suggests that the Central Bureau of Investigation (CBI) has conducted search in the residences and offices of various senior officials of the company. LINK
“As per press reports the company has come to know that, the CBI conducted searches at the residence of Shri R. Varadarajan, Managing Director, Shri. V. Ragu, Executive Director and Shri. Kannan, the then Chief Manager of the company with regard to waiver of preclosure charges on October 8, 2016,” Repco Home Finance said in a BSE filing.
The company said that there is no material impact on the company.
The recovered from its intra-day low and trading at Rs 785, down 4.7% on the BSE at 01:28 pm. The trading volumes on the counter jumped more than 20-fold with a combined 1.92 million shares changed hands on the BSE and NSE so far.
“As per press reports the company has come to know that, the CBI conducted searches at the residence of Shri R. Varadarajan, Managing Director, Shri. V. Ragu, Executive Director and Shri. Kannan, the then Chief Manager of the company with regard to waiver of preclosure charges on October 8, 2016,” Repco Home Finance said in a BSE filing.
The company said that there is no material impact on the company.
The recovered from its intra-day low and trading at Rs 785, down 4.7% on the BSE at 01:28 pm. The trading volumes on the counter jumped more than 20-fold with a combined 1.92 million shares changed hands on the BSE and NSE so far.