44 Infotech Firms Moved Into Rolling Settlement

Of the total 96 companies that have been moved to the rolling settlement segment of the Bombay Stock Exchange on Monday, as many as 44 scrips are from information technology sector while 2 are from the entertainment sector.

No communication sector scrip has been moved in rolling settlement.

The other major sector in the rolling segment is made up of non-banking finance companies (NBFC), with nearly 36 falling in the basket.

With addition of 96 companies, the total number of scrips in the rolling settlement segment is now up to 140 companies. Information technology and entertainment sector scrips together now stands to 55.

 

The National Stock Exchange would shift those listed among 96 companies from today (Wednesday) the first day of new settlement on the exchange.

Some of the NBFCs that had turned themselves into information technology players have seen a major fluctuation in prices in the past few months.

Of the total 44 IT companies, nearly 33 companies have changed their names and are now pass off as IT players.

Of these 96 companies in rolling settlement, only 35 scrips were traded yesterday. In terms of volumes, nearly 10 companies have seen a fall from Friday's volumes while only 5 companies have reported a rise in volumes in the same period.

Monalisa Infotech, earlier a plastics sector company which turned itself into an IT player, saw major volumes of nearly 61,201 shares traded yesterday. On Friday 40,699 shares were traded.

Of the traded 35 companies, only two companies have dipped below their Friday's closing levels while all others have seen gains. Mascon Global gained 4.52 per cent to Rs 151 while Cyberspace Infosys gained 15.4 per cent to Rs 128.

The scrip also saw maximum rise in volumes. Nearly 11,583 shares were traded yesterday compared to 330 shares on Friday.