Omaxe hits lower circuit for third day

New Delhi: Shares of Omaxe fell 5 per cent on Friday following Sebi restrictions on the realty firm, its Chairman, MD, and three others from the securities market for two years for misrepresenting the company’s financials. Extending its losses for the third consecutive session, Omaxe’s shares declined 5 per cent each of Rs 139.15 and 137.40 apiece -- its lower circuit limit -- on the NSE and BSE, respectively.

In the past three sessions, the company’s shares declined 15 per cent on both bourses. In broader equity markets, 30-share benchmark BSE Sensex tumbled 700.52 points or 0.86 per cent to trade at 81,167.03 while NSE Nifty declined 239.75 points to 24,771.15. Realty firm Omaxe said it will consider challenging market regulator Sebi’s order on Tuesday that barred the company, its Chairman Rohtas Goel, MD Mohit Goel, and three others from the securities market for two years for misrepresentation in the company’s financial statements.