Stocks

Ramky Infra scrip down 7 per cent

Our Bureau Hyderabad | Updated on May 29, 2012

Shares of Ramky infrastructure closed at Rs. 113.05, down 6.72 per cent during the day.

As against the 52 week-high of Rs. 330 for the company shares recorded in August 2011, it touched a low of Rs. 112.60 today.

The Hyderabad-based infrastructure company has been in the news lately for the alleged links of the company Chairman, Mr. Ayodhya Rami Reddy, for securing benefits in the Ramky Pharma City during Dr. Y.S. Rajasekhara Reddy’s tenure. The issue also relates to investment of about Rs. 10 crore made into Jagathi Publication.

The Central Bureau of Investigation has listed the Ramky promoter as one of the co-accused in the disproportionate assets case of Mr. Y.S. Jagan Mohan Reddy, MP and president of YSR party.

Following the arrest of Mr. Jagan Reddy on Sunday night, the Ramky scrip closed down on Monday and it is down again today.

Published on May 29, 2012

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