The Bombay High Court directed the CBI to investigate Jai Corporation and its promoter AnandJaikumar Jain for cheating and fraud. Allegations include conspiring to cheat investors by using forged documents, diverting funds to sister concerns and entities in Mauritius and Jersey for personal gain, and fraudulent exports to Australia and USA.
Reliance Industries Ltd, Tata Motors Ltd, Asian Paints Ltd and Power Grid Corporation of India Ltd were among four Sensex stocks hitting their fresh 52-week lows.
Domestic benchmarks slumped over 1.5 per cent today but the pain was much deeper in the broader indices (small- and mid-cap stocks) with Nifty Midcap 100 and Nifty Smallcap 100 cracking 3.53 per cent and 3.97 per cent, respectively.