Ashiana Housing Ltd uncovers fraud of Rs. 2.37 crores

Ashiana Housing Ltd has uncovered a fraud at one of its locations. The investigations indicate that the potential loss from the fraud is around 2.37 crores. The Company will be taking all necessary actions to recover the amount.

The company is in the process of reviewing our internal processes to prevent any recurrence. As a matter of abundant caution, the Company has decided to provision 50% of this potential loss in Q1 of the current financial year.

Shares of Ashiana Housing Limited was last trading in BSE at Rs. 162.3 as compared to the previous close of Rs. 158.85. The total number of shares traded during the day was 39247 in over 1382 trades.

The stock hit an intraday high of Rs. 165.25 and intraday low of 152.1. The net turnover during the day was Rs. 6155198.

Source : Equity Bulls

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