IVRCL plunges 20% on corporate governance

Shares of IVRCL fell sharply towards closing on Thursday on concern over corporate governance being raised after the NHAI consultant, Paulose Thomas, who was appointed to oversee the quality of work on IVCRL Chengapalli Tollway's Rs 10 billion project, found dead.

Thomas's family members have alleged that his death could be connected to the project, as reported by Indian Express.

Shares ofthe companyare trading at Rs 33, down Rs 8.15, or 19.81% at the Bombay Stock Exchange (BSE) on Thursday.The scrip has touched an intra-day high of Rs 41.35 and low of Rs 31.80. The total volume of shares traded at the BSE is 6,465,414.In the earlier session, the shares declined 2.49%, or Rs 1.05, at Rs 41.15. Currently, the stock is trading at all time 52-week low, which is below 56.12% over the 52-week high of Rs 75.20.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 42.65 (1.50) (3.52) 1 Month 44.05 (2.90) (6.58) 3 Months 41.90 (0.75) (1.79) 6 Months 42.35 (1.20) (2.83) 1 Year 52.20 (11.05) (21.17) Note: Based on previous day closing price.