Prakash Industries clarifies on ED’s probe report; stock decline 2%

The company’s shares were hit by a media report that the Enforcement Directorate (ED) has attached properties of the company in a coal scam case.

Dec 06, 2018 06:12 IST India Infoline News Service

Shares of Prakash Industries were trading 2% down, despite the company clarifying that it has not yet received any attachment order from Enforcement Directorate (ED).

"We categorically state that we have not yet received any attachment order from ED and that being so, the question of providing any further information to the exchanges does not arise in the matter. We, however, will inform the exchanges, if and when, we do receive any intimation in the matter," the company said in its filing to the exchanges on Wednesday.

The company’s shares were hit by a media report that the Enforcement Directorate (ED) has attached properties of the company in a coal scam case. As per a PTI report, a law enforcement agency on Tuesday has attached assets worth Rs117cr of the company under Prevention of Money Laundering Act (PMLA) in an ongoing investigation related to the coal blocks allocation scam case. Read more.


Prakash Industries Ltd's share price is currently at Rs83.25, down by Rs1.6 or 1.89% from its previous closing of Rs84.85 on the BSE.

The scrip opened at Rs83.95 and has touched a high and low of Rs84.65 and Rs82.55, respectively. So far, 4,44,191 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,386cr.

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