Stock of this company tanked 46% in 1 wk after promoter offloaded 10% stake

Shares of BGR Energy Systems were locked in the 20-per cent lower circuit at Rs 60.95 on the National Stock Exchange (NSE) on Tuesday at 01:35 PM, in an otherwise firm market, extending their decline into fifth day. The slide comes after the promoter reduced its stake in the company via open market.

A combined 15.63 million equity shares, representing 21.65 per cent of total equity of BGR Energy, changed hands on the NSE and BSE. There were pending sell orders for a combined 2.72 million shares, the exchange data shows.

In the past one week, the stock of the civil construction