ideaForge recovers after falling 18% from listing highs
ideaForge was down 18% from its listing high in initial trade; government will inspect accounts of Byju's; Wadias plan to bid for Go Air with a prtner
ideaForge share price has been under sell off stress this week after bumper listing on Friday. ideaForge share price on Tuesday opened with downside gap and went on to hit life-time low of ₹1114.45 apiece in NSE, logging around 18 per cent loss from its life-time high of ₹1343.95 apiece. So, after bumper listing on Friday, this drone maker company’s share price has fallen around 18 per cent that may attract bargain hunters of Indian stock market.
Byju’s books to be inspected The government has ordered an inspection into the account books of education-technology company Byju’s, which has been rocked by the resignation of its auditor and three board members last month, according to people familiar with the matter. The Ministry of Corporate Affairs has sought a report in six weeks. The inspection follows an internal assessment of the company’s state of affairs and — based on findings of the inspection — the government will decide if the matter needs to be escalated to the Serious Fraud Investigation Office. The inspection would be a new headache for Byju’s, valued at $22 billion in the last funding round, as it restarts negotiations to restructure its $1.2 billion term loan after breaching certain terms of its debt agreement.
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