Economy · India
PVR Inox Shares Fall Amidst Buyback Expiry and Investigation
PVR Inox shares experienced a significant decline, falling by approximately 7-8% on September 7. This drop occurred after the record date for a share buyback passed, leading some investors to exit their positions. The sell-off was also attributed to an ongoing internal investigation into allegations of kickbacks related to property construction. The company is pursuing an ambitious expansion strategy, which has raised concerns in light of these allegations.
How outlets across the spectrum covered it
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- Centre (4): Business Standard, Business Today, Mint, The Hindu BusinessLine