Meanwhile, the BSE Sensex was down 136.20 points, or 0.81%, to 16,776.51.

On BSE, 15.48 lakh shares were traded in the counter as against an average daily volume of 6.24 lakh shares in the past one quarter.

The stock hit a high of Rs 126.50 and a low of Rs 119.75 so far during the day. The stock had hit a 52-week low of Rs 111.35 on Monday, 7 May 2012. The stock had hit a 52-week high of Rs 210.15 on 21 February 2012.

The stock had underperformed the market over the past one month until 7 May 2012, falling 38.85% compared with the Sensex's 3.28% fall. The scrip had also underperformed the market in past one quarter, sliding 29.28% as against 4.03% fall in the Sensex.

The mid-cap company has an equity capital of Rs 332.36 crore. Face value per share is Rs 10.

Shares of IRB Infrastructure took beating recently after the company announced that three executives had agreed to take a polygraph test, connected to the police investigation of the 2010 murder of a man described as an anti-corruption activist.

Among executives investigated is IRB Infrastructure's Chairman Virendra Dattatray Mhaiskar, who told media that he was innocent and not connected to the murder.

In a statement to the stock exchange, the company on 3 May 2012 said Mhaiskar had been cleared by a previous local police investigation, and that he and other company officials had agreed to the Central Bureau Of Investigation (CBI)'s latest demand for a polygraph test, or lie detector test as they were confident of their non-involvement in the matter.

IRB Infrastructure Developers will declare its year ended March 2012 results on 9 May 2012. The company's consolidated net profit fell 1.2% to Rs 131.39 crore on 14.5% increase in total income to Rs 779.23 crore in Q3 December 2011 over Q3 December 2010.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.