Shares of Infibeam Avenues nosedived nearly 58 per cent on Bombay Stock Exchange amid spurt in volume trade ahead of the annual general meeting of the company scheduled on Saturday. According to data available with Bombay Stock Exchange, as much as 90.21 lakh shares have changed hand over the counter as compared to a two-week average of 10.87 lakh shares.
Extending previous session losses, shares of the company declined as much as 57.63 per cent and touched 52-week low of Rs 83.70 apiece on the Bombay Stock Exchange. In a similar trend, stocks of the firm were trading at Rs 90.35 apiece, 54.90 per cent, on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 36,462.24, up 138.07 points, or 0.38 per cent, from the previous close on the BSE at 11:30 hours.