This article has been modified to correct factual inaccuracies
IRB Infrastructure Developers dipped 4% to Rs 142 on back of heavy volumes. The stock opened at Rs 150 and hit a low of Rs 139 on the National Stock Exchagne. As many as a combined 11.20 million shares have changed hands so far against an average sub two million shares that were traded daily in past two weeks.
According to India Today, "India Against Corruptions (IAC) activist Anjali Damania claims that BJP chief Nitin Gadkari had favoured the infrastructure company while he was the PWD minister in the Shiv Sena-BJP led government in Maharashtra."
CORRECTION
IRB Infrastructure clarified to the stock exchanges and said that, Ideal Power Ltd or Ideal Energy Projects Ltd have never been part of IRB Group. Neither IRB Infrastructure Developers Ltd nor any of its downstream subsidiaries have ever committed or made any investments into Ideal Power Ltd or Ideal Energy Projects Ltd, and that Mr. Nikhil Gadkari is not and has never been a director of either IRB Infrastructure Developers Ltd or any of its downstream subsidiaries as was reported in an earlier version of this report. The error is regretted.
