IRB Infrastructure hits 11-month low; stock dips 7%

The stock dipped 7% to Rs 195 on the BSE in intra-day deal, trading at its lowest level since December 30, 2016.

IRB Infrastructure Developers hit an 11-month low of Rs 195, down 7% on the BSE on the back of heavy volumes after the company said the Central Bureau of Investigation (CBI) on Wednesday filed a charge sheet against peoples including senior officials of IRB Infrastructure in the Sessions Court, Pune in the matter of an alleged illegal purchase of government land by its subsidiary, Aryan Infrastructure Investments Private Limited (AIIPL).

Based on documents received under the Right to Information (RTI) Act, Satish Shetty had filed a cheating and forgery case with Lonavala police in October 2009 against IRB chairman