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This company lost 5800 crores in two hours of business, know why?


This company lost 5800 crores in two hours of business, know why? 1

new Delhi. The shares of the company are witnessing a sharp decline on Thursday, after the promoters of the country’s major multinational company UPL, accused of doing illegal transactions. By 11 am, the market cap of the company has seen a decline of about Rs 5800 crore. While the company’s share price has fallen by 15 percent. Aaron said that the company promoters took properties on rent from shell companies in Pali Hill, Mumbai and gave them money. At the same time, talk of illegal transactions has been revealed in the inties of these shell companies. According to media reports, the whistle blower can deliver all the documents to agencies.

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15 per cent drop
After these allegations, the company’s shares have been under pressure since morning. On the BSE, the company’s stock fell by 15 per cent to a day’s low of Rs 416.05. At present, the company’s stock was trading at Rs 428.10 with a loss of 13 per cent, ie, a loss of Rs 64.20 at 11 am. Whereas today the company’s stock started with Rs 479.90. While the company’s stock closed at Rs 492.30 on Wednesday.

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5800 crore decline in the company’s market cap
At the same time, if we talk about the market cap of the company, there has been a decline of Rs 5800 crore in the business so far. When the company’s stock touched the day’s low level, the market cap had reached Rs 31602.47 as against Wednesday. Whereas at 11 am the market cap of the company was Rs 32517.77. While the market cap of the company was visible at Rs 37394.29 after trading closed on Wednesday.

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