Shares of Anil Ambani-led Reliance Infrastructure Ltd plunged approximately 15 per cent to a record low of Rs 50.5.
The company, on Friday, posted its biggest ever standalone loss of Rs 1,664 crore ($238.31 million) due to an expense of Rs 8,597 crore for impairment and write-offs in the quarter.
The auditors to company raised concerns about its ability to continue as a going concern and said that they do not have sufficient evidence to determine if the result gave a “true and fair” view of the losses and income.
The stock of Reliance Infrastructure was down 81.3 per cent this year as of last close.
($1 = 69.8262 Indian rupees)