BSE: Over 300 stocks hit lower circuit

The prices of as many as 137 companies hit all-time lows, and 343 stocks hit the lower circuit or fell to the maximum permissible limit for the day on the BSE on concerns over shares pledged by their promoters to raise loans.

The prices of as many as 137 companies hit all-time lows, and 343 stocks hit the lower circuit or fell to the maximum permissible limit for the day on the BSE on concerns over shares pledged by their promoters to raise loans.

HT Image

As a fall in the rupee value to below Rs 51-level against the US dollar made foreign borrowings costlier, the share prices of companies that have heavy promoter pledges and significant exposure to loans through foreign currency convertible bonds were battered, marketmen said.

MTNL (down 4.5%), Punj Lloyd (6%) and GMR Infra (3.9%) hit all-time lows Friday.