Infibeam Incorporation rebounds 47% from intra-day lows; stock down 12%

The stock was trading 12% lower at Rs 144.80 at 02:02 PM, bouncing back 47% from its early morning low of Rs 98.80 on the BSE

Shares of Infibeam Incorporation turned volatile trading 12% lower at Rs 144.80 on Friday at 02:12 PM; on back of heavy volumes.

The stock of internet software & services recovered 47% from its early morning low of Rs 98.80 on the BSE. It was closed at Rs 165 on Thursday.

The trading volumes on the counter were jumped by more than eight-fold today. A combined 115 million shares representing 21% of total equity of Infibeam Incorporation changed hands on the BSE and NSE so far.

There is no pending information or announcement from the company which may have a bearing on the price behavior in the scrip, Infibeam Incorporation said in the clarification sought by the BSE on December 29, 2017, with reference to increase in Price.