Maytas Infra continue to slide

MUMBAI: Maytas Infra on Wednesday fell for the 11th consecutive trading session on the Bombay Stock Exchange, a day after the Maharashtra government cancelled a Rs 480-crore order awarded to the company, citing irregularities in the tender process.

Shares of Maytas Infra, just after opening, hit lower the circuit at Rs 95.40, down 4.98 per cent on the BSE. Similar movement was seen on the National Stock Exchange where the stock got stuck at Rs 95.15, down 4.99 per cent.

Over 1,548 shares exchanged hands on both the bourses. According to marketmen, the Maharashtra government's step is a just the beginning, more of negative news regarding project cancellation are in the offing.

Further, Andhra Pradesh Chief Minister Y S Rajasekhara Reddy has said that the state Crime Investigation Department is probing the affair of Maytas Infra, the firm promoted by the family of Satyam Computer former chairman B Ramalinga Raju.