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Omaxe hits 11-year low despite clarification, tanks 66% in 12 days

The stock was locked in lower circuit for 12th straight trading day

With markets facing headwinds, hold on to good stocks even when they fall
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In April, CARE had downgraded the company's long-term bank facilities

SI Reporter Mumbai
Shares of Omaxe were locked in 5 per cent down circuit at Rs 75.85, an 11-year low, on the BSE on Monday despite the company issuing a clarification regarding the recent volatility in the stock price.

The real estate firm's stock was locked in lower circuit for 12th straight trading day. It has fallen 66 per cent from the level of Rs 220.55 on June 26, 2020. The stock is trading at its lowest level since July 14, 2009. Recently, the company had issued a clarification to the exchanges, saying the movement in the share price is "purely due to