Raids’ effect: Hero MotoCorp shares tumble over 3 pc
Meanwhile, the shares of Hero MotoCorp on Tuesday fell by more than 3 per cent amid the money laundering reports against Pawan Munjal and the company.
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NEW DELHI: After officials from Enforcement Directorate conducted searches at premises linked to Hero MotorCorp and the residence of its executive chairman Pawan Munjal, it came out with a confirmation statement in a stock exchange filing.
In a statement, it said, ‘’Officials from the Enforcement Directorate (ED) today visited two of our offices in Delhi and Gurugram and the residence of our Executive Chairman Dr Pawan Munjal. We continue to extend all cooperation to the agency.’’
Meanwhile, the shares of Hero MotoCorp on Tuesday fell by more than 3 per cent amid the money laundering reports against Pawan Munjal and the company.
The stock of the two-wheeler maker declined 3.14 per cent to settle at Rs 3,103 apiece on the BSE. During the day, it fell by 5.34 per cent to Rs 3,032.10.
On the NSE, it lost 3.23 per cent to end at Rs 3,100.05 per share.
The company’s market valuation fell by Rs 2,007.4 crore to Rs 62,010.87 crore.
In a highly volatile trade, the 30-share BSE Sensex declined 68.36 points or 0.10 per cent to settle at 66,459.31. The NSE Nifty fell 20.25 points or 0.10 per cent to end at 19,733.55.
