June 17, 2019 / 8:03 AM / a month ago

BUZZ-India's Reliance Infra hits record low; auditors raise concern over business

** Shares of Anil Ambani-led Reliance Infrastructure Ltd plunged ~15% to a record low of 50.5 rupees

** Co on Friday posted bit.ly/2wZtoxc its biggest ever standalone loss of 16.64 bln rupees ($238.31 million) due to an expense of 85.97 bln rupees for impairment and write-offs in qtr

** Auditors to co raised concerns about co’s ability to continue as a going concern and said they do not have sufficient evidence to determine if the result gave a “true and fair” view of the losses and income

** Stock down 81.3% this year as of last close

$1 = 69.8262 Indian rupees

0 : 0
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