Till 09:59 AM; a combined 8.56 million shares changed on BSE and NSE. There were pending sell orders for 3.4 million shares on both the exchanges, data shows.
Investors lose Rs 226 billion after a sharp fall in stock price during the period. The market capitalisation (market-cap) of Vakrangee declined from Rs 535 billion to Rs 309 billion in past four days. The company had market-cap of Rs 145 billion as on December 30, 2016.
In the past two years, the stock has had a good run and gained a huge 677% - from Rs 65 on January 23, 2015 to Rs 505 on January 25, 2018. By comparison, the benchmark index gained 23% during the same period.
According to media reports, Vakrangee has come under Securities Exchange Board of India’s (SEBI) investigation for alleged price and volume manipulation of its own scrip at BSE and the National Stock Exchange (NSE). READ THE REPORT HERE