On BSE, 59.59 lakh shares were traded in the counter as against an average daily volume of 3.76 lakh shares in the past one quarter.
The stock dropped as much as 17.59% at the day's low of Rs 138.40. The stock hit a high of Rs 167.50 during the day. The stock had hit a 52-week low of Rs 121 on 3 January 2012. The stock had hit a 52-week high of Rs 210.15 on 21 February 2012.
The stock had underperformed the market over the past one month until 2 May 2012, falling 11.54% compared with the Sensex's 1.01% fall. The scrip also underperformed the market in past one quarter, sliding 4.87% as against 0.75% decline in the Sensex.
The mid-cap infrastructure company has an equity capital of Rs 332.36 crore. Face value per share is Rs 10.
Shares of IRB Infrastructure Developers recovered from intraday low in volatile trade to settle at Rs 149.65 after the company in mid-afternoon trade clarified to a media report that indicated that the company's chairman Virendra Mhaiskar was being investigated for possible involvement in a murder case of RTI activist Satish Shetty in January 2010.
IRB Infrastructure Developers clarified that the deceased RTI activist's brother had named various persons including Virendra Mhaiskar as a suspect. The Police Department had conducted through inquiry in the matter and given a clean chit to Mhaiskar.
However, the deceased's brother was not happy with the investigation conducted by the Police Department and upon his petition; the State Government had handed over the investigation to CBI. During the course of investigation, CBI has, along with several other suspects, asked Mhaiskar and other two company officials to undergo a polygraph test.
Mhaiskar and the company officials have readily agreed to undergo the polygraph test since they are confident of their non-involvement in the matter, the clarification said.
The press release further added that the company and its management are fully co-operating with the investigating agency since they have full faith in the due process of law and the judiciary.
IRB Infrastructure Developers will declare its year ended March 2012 results on 9 May 2012. The company's consolidated net profit fell 1.2% to Rs 131.39 crore on 14.5% increase in total income to Rs 779.23 crore in Q3 December 2011 over Q3 December 2010.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.