STOCK ALERT: Select scrips tank on huge volumes, Tulip Telecom plunges 45%

Glodyne Technoserve, Pipavav Defence, Parsvnath Developers, Era Infra and Pradip Overseas down 20% each

Shares of selected companies have tanked more than 10% each on back of huge volumes in morning trades on the Bombay Stock Exchange (BSE).

Tulip Telecom, Glodyne Technoserve, Pipavav Defence and Offshore Engineering, Parsvnath Developers, Era Infra Engineering, SRS, Radico Khaitan and Pradip Overseas have fallen more than 17% each on the BSE.

Tulip Telecom has tanked as much as 45% to Rs 65.65 on over six-fold jump in trading volumes. A combined 6.08 million shares representing about 14% of free-float equity of the company have changed hands on the counter so far, against an average sub one million shares that were traded daily in past two weeks on both the exchanges.

Glodyne Technoserve, Pipavav Defence and Offshore Engineering, Parsvnath Developers, Era Infra Engineering and Pradip Overseas frozen lower circuit of 20% each and there have no buyers on these counters.