Stocks

Poonawalla Fincorp shares bounce back

PTI New Delhi | Updated on September 17, 2021

 

Shares of Poonawalla Fincorp recovered all its losses and closed the day nearly 3 per cent higher on Friday. In early trade, the stock declined 5 per cent to its lower circuit of ₹163.55 on the BSE after its Managing Director Abhay Bhutada stepped down from the company following SEBI action. However, later, the stock came back to winning ways and closed the day with a gain of 2.79 per cent at ₹176.95.

On the NSE also, it closed at ₹176.45, a gain of 2.64 per cent after tumbling 4.97 per cent to ₹163.35 in early trade. Shares of Poonawalla Fincorp tumbled 5 per cent on Thursday. Bhutada has resigned from the board with effect from September 16, 2021, Poonawalla Fincorp said in a statement on Thursday. The board of directors of the company has accepted his resignation.

 

Published on September 17, 2021

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