Shares of DB Realty, whose MD was denied bail in 2G scam case, tumbled by 11.5% intra-day on NSE but recovered most of the losses to close lower by 2.71%.
Shares of Reliance Communications and Unitech -- also linked with 2G scam -- too lost 1.48% and 5.48%, respectively on the National Stock Exchange (NSE).
Stocks of DB Realty had plummeted by 11.5% to touch an intra-day low of Rs 94.60 on NSE. Later, the stock managed to trim much of its losses and finished lower by 2.71% at Rs 104.
The company today said that its managing director Vinod Goenka not getting bail in the 2G spectrum scam will not have any impact on company's operations.
Unitech settled 5.48% lower at Rs 40.50 after falling by over 8% in the intra-day session.
Reliance Communications shed 1.48% to settle at Rs 106.25 at NSE.
Five corporate executives -- Swan Telecom Director Vinod Goenka, Unitech Wireless (Tamil Nadu) Ltd Managing Director Sanjay Chandra, and three top officials of Reliance ADA Group namely Gautam Doshi, Surendra Pipara and Hari Nair -- were arrested and taken to Tihar Jail after a Delhi court rejected their bail pleas in a case related to 2G scam.
Other companies from the ADAG pack like Reliance Broadcast Network and Reliance MediaWorks too slipped by 1.48% and 1.27%, respectively.
Meanwhile, the NSE broader 50-share Nifty closed the day with a gain of 110.90 points at 5,851.65.
