Feb 28th, 2011
State-run National Aluminium Company Limited ( NALCO )) fell by over 8 per cent in early trade on the BSE today, hit by arrest of Chairman and Managing Director A K Srivastava in a bribery case.
Shares of the company dropped by 8.5 per cent to hit an early low of Rs 402.60 on the Bombay Stock Exchange (BSE) today.
The CBI had late last week arrested Srivastava and his wife, besides two others, for allegedly accepting bribes and claimed to have recovered 10 kg of gold bricks worth Rs 2.11 crore from a bank locker and nearly Rs 30 lakh in cash.
The mines ministry had on Saturday suspended Srivastava, based on the CBI charges.
Meanwhile, the BSE benchmark Sensex was trading 91.40 points higher at 17,792.31 at 0942 hours today.
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