Shares of Srei Infrastructure Finance were locked in the lower circuit filter of 5 per cent at Rs 8.17 on the BSE in Tuesday’s session after the Reserve Bank of India (RBI) on Monday superseded the board of the company, which will be taken for insolvency proceedings owing to governance concern and payment defaults by them.
The stock of the non-banking finance company (NBFC) has slipped 56 per cent from its 52-week high level of Rs 18.39 touched on June 23, 2021. It had hit a 52-week low of Rs 5.01 on March 31, 2021.
The trading volumes on the counter more-than-doubled, with a combined 885,925 equity shares having changed hands on the NSE and BSE till 10:35 am. There were pending sell orders for a combined 6.47 million shares on both the exchanges, the data shows.
