Mumbai: Stocks of Bombay Dyeing, Bombay Burmah and Britannia Industries, owned by Wadia Group, fell on reports of Ness Wadia, son of promoter Nusli Wadia, getting a two-year jail term in Japan over drug possession.
Bombay Dyeing shares plunged 9.78 per cent to close at Rs 112.60 on the BSE. Intraday, it tumbled 17.42 per cent to Rs 103.05.
Shares of Britannia Industries went down by 2.50 per cent to Rs 2,893.10 and Bombay Burmah Trading Corporation fell by 2.40 per cent to close at Rs 1,241.30. The BSE sought clarification from the three companies on the news. This newspaper reported that Ness Wadia, the Wadia Group scion and co-owner of IPL team Kings XI Punjab, who was on a skiing holiday was arrested in early March at New Chitose Airport in the northern Japanese island of Hokkaido after customs officials found 25g of "what appeared to be cannabis resin in his trouser
pocket".
