India, March 24 -- Shares of Fino Payments Banks have gone for a toss and tanked 18.6% to Rs.113.6 apiece during intraday trading today after Telangana high court (HC) dismissed MD and CEO Rishi Gupta's writ petition seeking bail in an alleged tax evasion case yesterday. 

The company's shares, which have been spiralling down since Gupta's arrest in late February, touched a fresh all-time low of Rs.112.1 during intraday today. The company's shares have slumped close to 56% on a year-to-date basis. With the bloodbath for the shares, Fino's market cap has plunged from $240 Mn at the beginning of the year to a $100 Mn (Rs.940.37 Cr) as of now.

The stock came under selling pressure after CEO Gupta was arrested by the Hyderabad unit of&#...