Emkay Global extends fall, tanks 27% in three days

A combined 14,398 shares have changed hands on the counter and there are pending sell orders for 115,711 shares on the NSE and BSE.

Emkay Global Financial Services has continued its southward journey and locked in lower circuit of 10% at Rs 25.25 for a third consecutive day on the National Stock Exchange (NSE).

The stock of broking firm has tanked 27% in past three trading sessions from Rs 34.50, after the company admitted an error on its part for the 900-point flash crash of the NSE index, the Nifty, on Friday, October 5, morning.

A combined 14,398 shares have already changed hands on the counter so far and there are pending sell orders for 115,711 shares on the NSE and BSE at 1227 hours.

 

In a clarification to the stock exchanges, Emkay Global said, "On October 5, while executing an order to transact a Nifty cash basket, in Nifty-50, a dealer committed a bona fide error. Immediately on realising the error, we promptly got in touch with the NSE and kept in touch with them to co-ordinate all future course of action until the entire erroneous outstanding position was closed out."