Tulip Telecom plunges 5%; CMD arrested for tax evasion - The New Indian Express

Tulip Telecom plunges 5%; CMD arrested for tax evasion

Published: 21st March 2014 01:19 PM

Last Updated: 21st March 2014 01:19 PM

Tulip Telecom, India's leading enterprise data services provider, plunged on Friday after the media reports quoted that the company's chairman and managing director (CMD) arrested for allegedly evading service tax of Rs 320 million. Shares ofthe companyare trading at Rs 4.02, down Rs 0.21, or 4.96% at the Bombay Stock Exchange (BSE) on Friday at 12:45 p.m.The scrip has touched an intra-day high of Rs 4.02 and low of Rs 4.02. The total volume of shares traded at the BSE is 57,945.In the earlier session, the shares rose 1.93%, or Rs 0.08, at Rs 4.23. Currently, the stock is trading down 83.04% from its 52-week high of Rs 23.70 and above 12.92% over the 52-week low of Rs 3.56.

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