Poor Show Sends Aptech Crashing

The Aptech scrip price crashed at major bourses yesterday after investors and speculators gave a thumbs down sign to the scrip following disappointing full year results from the company.

On the Bombay Stock exchange , the scrip hit the lower end of the filter circuit at Rs 540.25, a loss of 10 per cent over the previous close. On the National Stock Exchange , trading in the scrip was frozen at Rs 540 with 1.78 lakh shares changing hands.

"The scrip price did not react on Monday as the 1:1 bonus had partly compensated for the disappointing results. Also a lot of selling had already taken place even before the results were actually declared." a dealer at an institutional brokerage said.

 

Marketmen feel the scrip could remain at current levels till the end of the week as there has been a lot of delivery based selling at the counter.

The Hind Lever Chemical scrip witnessed a sharp spurt in price and volumes on news that the company would be considering the issue of bonus shares at its board meeting.

On the BSE 20000 shares changed hands with the price edging up to Rs 613(+Rs 48).

The VSNL scrip witnessed negotiated deals of 41,900 shares and 13,200 shares on the BSE and NSE respectively. On both the exchanges the deal took place at Rs 740 per share.

The Kesoram Industries witnessed a negotiated deal of 5 lakh shares on the Bombay stock Exchange yesterday at the rate of Rs 23 per share share. The scrip closed at Rs 23, down Rs 2 over the previous close. The ABB scrip closed at 347.85 on the NSE , a fall of 6 per cent. The Rhone Poulenc scrip witnessed a negotiated deal of 10,000 shares on the BSE yesterday at Rs 360 levels. The scrip closed at Rs 364(+Rs 5.50).

In the B2 group, Serene Industries witnessed trading in 9.81 lakh shares. This works out to approximately 3.11 per cent of the total equity cap of the company.

The scrip closed at Rs 0.50 on the BSE. The company has posted a net loss of Rs 22 crore for the year-ended June 97 as against a profit figure of Rs 3 crore for the previous fiscal.

The Cummins India scrip witnessed a negotiated deal of 30000 shares on the Bombay Stock Exchange at the rate of Rs 390 per share. This was Rs 12 lower than the previous close of Rs 402.

In the specified group, 17 scrips hit new 52 week lows during intra day trading.