Asian Granito recovers after slipping 13% in intra-day trade

The stock slipped 13% to Rs 162 as the Promoter and Managing Director Mukeshbhai Patel was arrested by Directorate of Revenue Intelligence on Friday, the company said in a release.

Shares of Asian Granito India rebounded on Monday after slipping 13% to Rs 162 per share on the BSE in intra-day trade following the company's promoter and managing director Mukeshbhai Patel arrest by Directorate of Revenue Intelligence on Friday for a case related to an amount of Rs 35 million.

Patel was released on bail on Saturday, the company said in a press release. 

Shares of the firm ended at Rs 179 apice on BSE, down 4 per cent. 

During the day, the stock inched towards its 52-week low of Rs 156 touched on October 9, 2018. It touched