India, Jan. 14 -- The shares of this company, engaged in the trading of Footwear and Clothing for Men, Women and Kids are in focus after it made a key clarification that erupted from earlier stake sale reports by its founders. In this article, we will dive more into the details of it.

With a market capitalisation of Rs 6,667 crore, the shares of Redtape Ltd reached a day's low of Rs 119.85 per share, down 8 percent from its previous day's closing price of Rs 129.95 per share. In the last one year, the stock has corrected by over 34 percent, as compared to NIFTY 50's positive return of 11 percent.

Reason behind the plunge Footwear and apparel brand RedTape plunged sharply in today's trade after it denied the reports of its founders selli...