Shares of Gitanjali Gems breached lower circuit today.
Yesterday, Enforcement Directorate said it has raided 17 premises across India belonging to Nirav Modi and the company, in connection with the $1.77bn Punjab National Bank fraud case.
The government has seized gold, diamonds and other precious stones worth Rs5,100cr. ED officials said five properties belonging to Modi and the other accused were sealed in Mumbai by the agency.
On Thursday, shares of the company closed 20% lower at Rs46.80, as reports had said the jewellery company was involved in fraudulent activities.
PNB, on Wednesday, informed stock exchanges that it had detected fraudulent transactions worth $1.8bn at one of its branches in the financial capital of the country.
Yesterday, Enforcement Directorate said it has raided 17 premises across India belonging to Nirav Modi and the company, in connection with the $1.77bn Punjab National Bank fraud case.
The government has seized gold, diamonds and other precious stones worth Rs5,100cr. ED officials said five properties belonging to Modi and the other accused were sealed in Mumbai by the agency.
On Thursday, shares of the company closed 20% lower at Rs46.80, as reports had said the jewellery company was involved in fraudulent activities.
PNB, on Wednesday, informed stock exchanges that it had detected fraudulent transactions worth $1.8bn at one of its branches in the financial capital of the country.
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