Share of Money Matters Financial Services today nosedived by 20 per cent, hitting a lower circuit on BSE, on allegations that the firm bribed senior officials of public sector financial institutions for procuring loans for corporates. The Mumbai-based investment bank’s shares had yesterday tumbled by 20 per cent on emergence of a real estate scam involving it and several state-owned institutions like Life Insurance Corporation, LIC Housing Finance, Central Bank of India, Bank of India and Punjab National Bank.

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Extending last session’s losses, share of Money Matters today also opened weak and tanked by 19.99 per cent to Rs 425 on the Bombay Stock Exchange.

The counter witnessed a similar plunge on the National Stock Exchange, where it was quoting at Rs 427.05, reflecting a fall of 19.99 per cent from the previous close.

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