Panama Papers: DLF, Indiabulls, Apollo Tyres shares fall

Shares of DLF, Indiabulls group firms and Apollo Tyres today plunged by up to 4 per cent on reports of leaked documents naming their promoters having associations with firms in tax havens.

Shares of Apollo Tyres declined by as much as 3.01 per cent to a low of Rs 169.15 on BSE.

DLF shares dropped by 2.85 per cent to the day's low of Rs 117.40.

The scrip of Indiabulls Housing Finance fell by 3.61 to touch the day's low of Rs 622.05. Further, Indiabulls Real Estate dived 2.85 per cent to Rs 56.15 and Indiabulls Wholesale Services was down 3.93 per cent to Rs 14.41.

The decline in shares came after Indian Express, based on leaked documents of Panama law firm Mossack Fonseca, reported that over 500 Indians including some well known names figure in the list of persons having association with firms in tax havens.

Among the 500 Indians, DLF owner K P Singh and nine members of his family, promoters of Apollo Tyres, Indiabulls' Sameer Gehlaut and Gautam Adani's elder brother Vinod Adani names were there.

Meanwhile, the BSE benchmark Sensex was trading at 25,303.27 points up 0.13 per cent from the previous close.