Ashoka Buildcon hits 52-wk low after reports of IT raids

Shares of Ashoka Buildcon slumped about 20 per cent to hit its 52-week low, after reports suggested that the office of the company was raided by income tax department yesterday.

Shares of the company were trading at Rs 136, which is the lower circuit limit of the stock, on BSE, down 19.98 per cent from its previous close.

On NSE, the shares were trading at 135.70 also recording a dip of 19.98 per cent.

On both the exchanges, the shares were trading at their 52-week low.

According to reports, raids were conducted by the IT department in the office of the firm in Nashik, Maharashtra, the house of its certain promoters and the Pimpalgaon-Baswant toll plaza run by the company.

Meanwhile, BSE today sought clarification on the reports from the company.