The SREI Infrastructure Finance Ltd stock plunged during today's trading after RBI announced a special audit of the company and its subsidiary.
The shares were trading at Rs. 5.82 in BSE, down by Rs. 0.85 or 12.67% as compared to its previous close of Rs. 6.71. The shares hit an intraday high of Rs. 6.53 and low of Rs. 5.66 during the day. 5.96 lakh shares changed hands at an average price of Rs. 5.91.
In a notification to the stock exchanges on November 20, 2020, the company had announced that a special audit of the Company and its subsidiary, Srei Equipment Finance Limited is being undertaken by an auditor appointed by Reserve Bank of India (RBI) in exercise of its powers under Section 45 MA(3) of the RBI Act, 1934.