Shares of realty player Akruti City slipped nearly 19 per cent on the Bombay Stock Exchange,a day after another bourse,the National Stock Exchange,said it would remove the firm from the equity derivatives segment. Akruti City plummeted 18.69 per cent to Rs 1,811 on BSE in early trade. It was later quoted at Rs 1,920,down 13.80 per cent on the BSE. The National Stock Exchange yesterday said Akruti City would be removed from the equity derivatives segment and the realty player's contracts would not be available for trading from March 27. However,the security would continue to be available for trading in the capital market segment,the filing said. The exchange said that fresh contracts for the month of June would not be introduced after the expiration of March 2009 contracts. Credit rating agency Crisil on Thursday said it had downgraded the ratings of Akruti City which reflects stress on the firm's liquidity and extended delays in project completion. Over the last 12 trading sessions,the scrip of Akruti City soared nearly three-fold,making it the country's second most valued real estate firm after DLF.
