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Shares of Ramky Infrastructure Ltd have hit a new low to close at Rs 54.35, down about 6 per cent over previous close on the BSE on Friday. The Hyderabad-based company, which had a 52-week high of Rs 220 in March 2012, has recently hit new lows as the company is being probed for alleged links in the disproportionate assets case of Y.S. Jagan Mohan Reddy, Chief of YSR Party and son of former Chief Minister Y.S. Rajasekhara Reddy. The CBI and the Enforcement Directorate are probing Ramky for the alleged deviations in the Ramky Pharma City project near Visakhapatnam. They have also seized some of the assets there.
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