The ADF Foods share price fell in trade today after markets regulator SEBI ordered the seizure of alleged illegal gains worth Rs.1.02 crore from the company promoters Bhavesh and Priyanka Thakkar and four others in an insider trading case. The other four are Pallavi N Mehta, Shefali B Mehta, Navin M Mehta, and Abhishek Mehta.
ADF Foods stock fell nearly 5 percent on BSE and NSE.
SEBI found "insider" entities had access to unpublished price sensitive information regarding the firm's buyback of shares. The entities can file replies within 21 days of receiving the order, SEBI said.
On Bombay Stock Exchange, the stock opened almost 2 percent below Friday's close of Rs 230.8 and reached 4.2 percent intraday low of Rs 220.9. At 1434 hours, the share stood at Rs 219, 11 points below its last week's close logging a turnover of Rs 1.62 lakh with 735 shares changing hands on the BSE.
With 25,528 shares changing hands on the NSE, the stock stood at Rs 221.45 against its Friday's close of 230 level.
The share opened at Rs 228, and reached an intraday low of Rs 219, down 4.2 percent on BSE.
(Edited by Rupa Burman Roy)