Srei Infrastructure Finance shares frozen in 5% lower circuit as RBI supersedes board
Shares of Srei Infrastructure Finance were locked in a 5 per cent lower circuit in the morning trade on Tuesday after the Reserve Bank of India (RBI) superseded the board of directors of the company.
The scrip was frozen at Rs 8.17 apiece on the BSE, down 5 per cent while on the National Stock Exchange (NSE), it was locked at Rs 8.20, down 4.65 per cent.
Over 6.15 lakh shares of Srei Infrastructure Finance were traded on the NSE while over 4.32 lakh shares exchanged hands of the BSE so far in the intraday trade, data from the respective stock exchange showed.
On Monday, RBI said that it has superseded the boards of Kolkata-based non-banking financial companies (NBFCs) Srei Infrastructure Finance and Srei Equipment Finance.
