Shares of e-commerce company Infibeam Avenues Ltd tumbled 58.2 per cent to Rs 83.65 in its biggest ever intraday percentage fall. The stock hit its lowest since November 9, 2016 - a day after the Union Government began its demonetisation drive to ban high denomination bank notes.
“There is no pending information or announcement from the company which may have a bearing on the price behaviour in the scrip,” the company said in a statement after the stock took a beating.
About 55.1 million shares changed hands, 8 times the 30-day average volume. Up to Thursday's close, the stock had risen 60 per cent this year. The company is scheduled to have its annual general meeting on Saturday.