GTL, GTL Infra lose early gains, end lower

Telecom infrastructure firms GTL and GTL Infra reversed their initial gains and ended the day with a loss of 3.40 per cent and 2.67 per cent on the BSE on Tuesday.

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After surging by up to 13 per cent in the morning trade, both the stocks closed the day with losses due to profit booking.

Shares of GTL settled at Rs 123.45, down 3.40 per cent from the previous close, while GTL Infra shed 2.67 per cent to close at Rs 16.40.

Meanwhile, the BSE barometer Sensex finished the day at 17,560.30, up 53.67 points.

In the previous session, shares of GTL plunged by over 62 per cent, while those of GTL Infrastructure nosedived by 43 per cent.

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More than Rs 3,200 crore worth of combined market capitalisation was wiped out due to heavy selling.

The company has said that neither its promoters nor entities related to the promoters have sold any shares, including the shares that have been pledged.

The company also said they have approached Sebi asking it to probe if there was any foul play in the debacle on the bourses.