Markets have traded steady for the last few trading sessions and today markets were firm, following international cues. However, there were a few stocks that crashed and some upto 20% in trade. Take a look...
Shares in Gitanjali Gems dived 20 per cent, and has now lost heavy ground, following reports of link to Nirav Modi group of companies. Mehul Choksi, the promoter of Gitanjali is the maternal uncle of Nirav Modi, whose companies are linked to a scam in which Punjab National Bank is said to be losing huge amounts.
The shares of Gitanjali Gems were last frozen at the lower end of the circuit filter with only sellers on both the exchanges. The stock was down 20 per cent at Rs 37.45 with almost 52 lakh shares yet to be sold on the NSE.
Analysts expect the shares to dive further and sentiments for the stock to worsen, given the huge sell order in the counter. Check stock quote of Gitanjali here
Agritech India Ltd
Shares in Agritech India was down 10 per cent in trade and like Gitanjali was locked at the lower end of the circuit filter. This is the second successive day the stock was locked at the lower end of the filter.
The company declared numbers a few days ago and the same was not up to the expectations of the street. For the last few days, we have seen constant pressure on the counter. Volumes in the counter were very thin as the stock was frozen at the 10 per cent circuit filter limits. Check stock quote of Agritech India here
This stock was down 12 per cent on the National Stock Exchange and was last seen trading at Rs 43. The company declared numbers on Feb 15, which did not please the markets.
Net profits at Anik Industries halved to Rs 61 lakhs for the quarter ending Dec 31, 2017, from Rs 1.41 crores in the previous quarter ending Sept 30, 2017. This did not go down well with the markets, which saw huge selling pressure in the stock.
Again, the stock was seeing decent volumes and dropped with heavy volumes. Anik Industries is a diversified company engaged in Mining of Minerals, Realty, International Coal Trading and mining, Agri Commodities, Power Generation, etc. Check stock quote of Anik Industries here
Shares in Vipul Ltd, dived 6 per cent in trade. The stock was last seen trading at Rs 65.70, down 6 per cent. The company recently declared numbers and net profits for the quarter ending Dec 31, 2017 dipped when compared to Sept quarter numbers.
Net profits, which was Rs 82.87 lakhs for the quarter ending Sept 30, 2017, fell to Rs 66.44 lakhs for the quarter ending Dec 31, 2017.
Vipul Ltd is a company engaged in property development and has an expanding portfolio that consists of over 10 million sq. ft. of delivered properties.
Shares in IZMO Ltd dropped almost 6 per cent in trade at Rs 102.90. The reason for the drop in the stock price could not be ascertained.
Izmo Ltd is a leader in interactive marketing solutions. The company offers hi-tech automotive e-retailing solutions in North America, Europe, and Asia. The company, founded in 1995, is listed on the BSE and NSE. Izmo ltd. is the world leader in interactive marketing solutions. The company offers hi-tech automotive e-retailing solutions in North America, Europe, and Asia.
Check stock quote of IZMO here