Mastek extends fall on inclusion in T group

Mastek has dipped 8% at Rs 131 extending its previous day’s fall, after the Bombay Stock Exchange (BSE), on Monday, moved the stock to the T group segment as a surveillance measure.

"As a part of surveillance measure the exchange transfers various scrips for settlement on a trade to trade (T-T) basis,” the exchange said in a notice dated August 27, 2012. Including Mastek, the BSE will shift 74 stocks to the T-T segement effective from Friday, August 31, 2012. Under the T-T segment, only delivery-based trading can be done and 100% value at risk margin is collected by the exchanges.

 

The stock of the mid-cap IT firm has slipped nearly 17% in past two trading sessions after the announcement. Today, the counter has seen thin volumes with a combined 480,000 shares changing hands so far, as against an average of 2.6 million shares that were traded daily in past two weeks.