Infibeam Avenues shares extend rally to second straight session
Shares of Infibeam Avenues had nosedived nearly 71 per cent Friday.
By ETMarkets.com |
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NEW DELHI: Shares of internet software and services firm Infibeam Avenues rallied for the second straight session on Wednesday post a steep fall on Friday.
After rallying over 14 per cent on Monday, the scrip was trading 7 per cent higher at Rs 215.30 in morning trade today.
Shares of Infibeam Avenues had nosedived nearly 71 per cent Friday.
At the annual general meeting on Saturday, Managing Director Vishal Mehta said the management and the entire team are working very hard towards the company's growth, according to PTI.
“Some WhatsApp rumours took rounds in the market and it created panic among market participants and investors at large," Mehta had said.
The plunge in share prices on Friday was mainly on account of "WhatsApp rumours".
"We categorically rescind such rumours which are erroneous and motivated. We would like to state that, we pro-actively wrote to stock exchanges to convey to our shareholders and stakeholders that we are fully compliant...," he had said.
In a voluntary clarification to the BSE on Friday, lnfibeam Avenues said that all the material information "that have a bearing on the operation/ performance of the company which include all price sensitive information have always been disclosed within the stipulated time".
After rallying over 14 per cent on Monday, the scrip was trading 7 per cent higher at Rs 215.30 in morning trade today.
Shares of Infibeam Avenues had nosedived nearly 71 per cent Friday.
At the annual general meeting on Saturday, Managing Director Vishal Mehta said the management and the entire team are working very hard towards the company's growth, according to PTI.
“Some WhatsApp rumours took rounds in the market and it created panic among market participants and investors at large," Mehta had said.
The plunge in share prices on Friday was mainly on account of "WhatsApp rumours".
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"We categorically rescind such rumours which are erroneous and motivated. We would like to state that, we pro-actively wrote to stock exchanges to convey to our shareholders and stakeholders that we are fully compliant...," he had said.
In a voluntary clarification to the BSE on Friday, lnfibeam Avenues said that all the material information "that have a bearing on the operation/ performance of the company which include all price sensitive information have always been disclosed within the stipulated time".
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