Shares of telecom infrastructure firm GTL fell for the seventh day today closing down by over 6 per cent due to heavy selling on the Bombay Stock Exchange.
During the day, GTL crashed by 19.78 per cent to hit a one-year low of Rs 93.05 on BSE. Later, the stock managed to trim some of the losses and settled 6.72 per cent down at Rs 108.20 on BSE.
Another group firm GTL Infra had also plunged by 15.87 per cent to hit an all-time low of Rs 13.25 during the day. However, fag-end buying helped the shares close at with a marginal gain of 0.95 per cent at Rs 15.90.
Market capitalisation (m-cap) of GTL declined to Rs 1,052 crore from Rs 3,971 as on June 14, while GTL Infra's market worth dropped to Rs 1,522 crore from Rs 3,087 crore.
On the volume front, 197.83 lakh shares of GTL changed hands on the BSE, while 170 lakh shares of GTL Infra were traded during the day.
The fall comes amid rumours that the company's promoters have pledged more than 50 per cent of their stake, which the company has denied, saying that neither the promoters nor entities related to the promoters have sold any shares, including shares that have been pledged.
Meanwhile, the BSE Sensex finished the day with a gain of 176.86 points at 17,727.49.
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