Gitanjali Gems downfall continues; tanks 71% in three weeks

Gitanjali gems is locked in lower circuit for the 13th straight trading day, down five% at Rs 18.35, its new low at the BSE, after the media report suggested that the central Bureau of investigation (CBI) arrested vp of the organisation in Punjab countrywide financial institution (PNB) case.

In beyond 3 weeks, the marketplace cost of Gitanjali gem stones tanked seventy one% from Rs 62.85 on February 12, 2018, as compared to 1.2% decline within the S&P BSE Sensex. till 12:36 pm; a combined 29,333 equity shares modified arms and there have been pending sell orders for 8.33 million stocks at the BSE and NSE.

The BSE said, the exchange has sought explanation from Gitanjali gem stones with admire to news flash acting on CNBC TV18 - March 06, 2018 titled "CBI arrests vice president of Gitanjali gemstones in PNB case".
The respond is awaited.
On February 14, 2018, PNB disclosed that it detected fraudulent transactions with a economic implication of about Rs 114 billion ($1.77 billion) and the matter has been referred to law enforcement corporations for the healing.