Raasi, Pentafour Scrips Clobbered

The Raasi Cements and Pentafour Software scrips were the major casualties at the major bourses yesterday. Trading in both scrips were frozen on the BSE after prices hit the lower end of the filter circuit with only sellers at the counters. Marketmen said, in both cases the crash was sparked off by unwinding of long positions by operators. In case of Raasi Cements, marketmen said there were apprehensions in the minds of players on whether the take over bid by India Cements would materialise.

On the BSE, the Raasi scrip opened on a strong note at Rs 270, but immediately hit the lower end of the circuit filter at Rs 236.80 with 47715 shares changing hands. On the NSE, trading in the scrip was frozen at Rs 220.50, but the price edged up to Rs 222.90 at close, a loss of Rs 2 over the previous close.

The Pentafour Software, which had been touching new 52-week highs consecutively for the past three weeks finally came under a bear grip.

Trading in the scrip was frozen on both BSE and NSE at Rs 320.50 and Rs 322.05 respectively, after there were only sellers at the counter. On the BSE, 2.86 lakh shares changed hands while on the NSE 95400 shares were traded.

Marketmen attributed the sharp fall in the scrip to speculative unwinding.

The Crompton Greaves scrip continued to witness hectic trading interest on rumours of GE Capital eyeing a stake in the company. Trading in the scrip was stuck at Rs 37.25 on the BSE after there were only buyers at the counter.

Polyester scrips continued to witness sustained buying interest with the Indo Rama and Garware Polyester attracting massive volumes. On the BSE, 3.68 lakh Garware Polyester shares were traded with the scrip gaining Rs 3.35 over the previous close. The Indo Rama scrip clocked trading volumes of 6.71 lakh shares on the BSE yesterday.

Cement scrip prices continued to head north on sustained rumours of being taken over by a larger player in the same field. Among the scrips in which trading was frozen on the BSE yesterday included Dalmia Cements, Priyadarshini Cements and Saurashtra Cements.

The Coates Viyella scrip came under sharp selling yesterday with the scrip falling to Rs 56.65 on the NSE, a loss of Rs 4 over the previous close. Yesterday 1.23 lakh shares changed hands on the NSE. The company will be declaring its results tomorrow.