Mumbai: Shares of DB Realty, whose MD was denied bail in 2G scam case, tumbled by 11.5 per cent intra-day on NSE but recovered most of the losses to close lower by 2.71 per cent.
Shares of Reliance Communications and Unitech — also linked with 2G scam — too lost 1.48 per cent and 5.48 per cent, respectively on the National Stock Exchange (NSE).
Stocks of DB Realty had plummeted by 11.5 per cent to touch an intra-day low of Rs 94.60 on NSE. Later, the stock managed to trim much of its losses and finished lower by 2.71 per cent at Rs 104.
The company today said that its managing director Vinod Goenka not getting bail in the 2G spectrum scam will not have any impact on company’s operations.
Unitech settled 5.48 per cent lower at Rs 40.50 after falling by over 8 per cent in the intra-day session.
Reliance Communications shed 1.48 per cent to settle at Rs 106.25 at NSE.
Five corporate executives — Swan Telecom Director Vinod Goenka, Unitech Wireless (Tamil Nadu) Ltd Managing Director Sanjay Chandra, and three top officials of Reliance ADA Group namely Gautam Doshi, Surendra Pipara and Hari Nair — were arrested and taken to Tihar Jail after a Delhi court rejected their bail pleas in a case related to 2G scam.Other companies from the ADAG pack like Reliance Broadcast Network and Reliance mediaWorks too slipped by 1.48 per cent and 1.27 per cent, respectively.Meanwhile, the NSE broader 50-share Nifty closed the day with a gain of 110.90 points at 5,851.65.