Shares of basmati rice-exporting firm KRBL tanked 20 per cent today amid concerns over its alleged involvement in the Agusta Westland helicopter scam.
The stock slumped 19.93 per cent to close at Rs 373.75 on BSE. During the day, it tumbled 19.99 per cent to Rs 373.45.
At NSE, shares of the company nose-dived 19.98 per cent to settle at Rs 375.
KRBL today clarified that it has nothing to do with the Agusta Westland helicopter scam.
Amid reports of arrest of its former director, the company in a regulatory filing said it is not in any way connected with Gautam Khaitan since 2013.
Khaitan was an independent director from July 30, 2007 to April 18, 2013 and was associated with KRBL in his professional capacity, it added.
The company sells basmati rice under the brand name India Gate and has a strong presence both in India and the markets abroad.
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