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Precision Camshafts stock nosedives 11.5% after Ministry of Corporate Affairs carriers investigation

Precision Camshafts said that "Company in process of providing all the necessary information to Authority."

December 20, 2021 12:48 IST | India Infoline News Service
Precision Camshafts stock was near the day's low on stock exchanges during Monday's session after an investigation into affairs of Companies Act 2013 has been initiated by the Ministry of Corporate Affairs in the company.

The investigation was carried on December 17, 2021.

As per the company's regulatory filing, queries are on basic and routine information of the Company related to accounts of earlier years and statutory registers, etc.

Precision Camshafts said that "Company in process of providing all the necessary information to Authority."

Further, Precision Camshafts assures that it will keep all the stakeholders updated on this matter to ensure that stakeholders have complete trust in Company, confidence and wellbeing.

At around 12.46 pm, Precision Camshafts was trading at Rs128.90 per piece down by 11.5% on Sensex.

The stock has touched an intraday high and low of Rs140 per piece and Rs128.20 per piece respectively.

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