Adhunik Industries hits 52-week low; stock slips 20%

The stock hit 52-week low of Rs 83.55, tanks 20% on BSE with no buyers were seen on the counter

Adhunik Industries hits 52-week low of Rs 83.55, tanked 20% on BSE after the Securities Appellate Tribunal (SAT) directed the market regulator and stock exchanges to reverse their decisions all dated August 7, 2017 qua the appellant forthwith.

A combined 2,753 shares changed hands and there were pending sell orders for 197,060 shares on BSE and NSE at 10:40 AM.

Trading in the company resumed after August 7, when stock exchanges had moved the scrip to the so-called stage VI of Graded Surveillance Measure (GSM) for being suspected shell companies.

“After hearing counsel on both the sides,