For the past three days, including today, GR Infra has been hitting new lows consistently. Today’s new low is at Rs.1111, with more sellers than buyers on the counter.
The CBI on the 13th conducted searches at several locations of the company in Shillong, Guwahati, Gurgaon, and Bangalore.
The raids were conducted in connection with alleged irregularities in a national road highway project in Assam.
News is that CBI has arrested a few National Highways Authority of India (NHAI) officials as well as GR Infra functionaries.
The company did confirm this news to the stock exchanges.