Shares of Shreyas Shipping & Logistics Ltd tanked 10% today after board of the firm announced a floor price of Rs 292 per share for the purpose of delisting of stock from BSE and NSE. The floor price amounts to a discount of 14% to the close of Rs 339.05 in the previous session. This led to weak sentiment around the stock after three days of rally during which it surged 34%.
Shares of Shreyas Shipping, which closed at Rs 260.50 on May 19 hit an intraday high of Rs 348.85 in trade today, amounting to a rally of 34% or Rs 88.35 this week.