Daily Archives: Wednesday August 9th, 2017

52 Week High Breakout (09/08/2017)

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Shares of restricted mask companies increased 200 percent in one year 36 lakh investors also stranded with several mutual funds Some companies prepare to appeal to the appellate door

indian-stock-market

Mumbai: The companies which had been banned by the capital market regulator, the Indian Securities and Exchange Board (SEBI), had banned trading, the shares of those companies had increased by 200 percent this year. However, these companies have termed the move of SEBI as completely false and baseless. Also, the restrictions on these continued to decline in the stock market for the second consecutive day.

In the Indian market, good growth was seen in the year 2017 and due to this, the prices of small and medium companies were good. At the same time, the market also touched new highs every day, due to which small companies also saw new heights.

The shares of restricted 331 companies, which saw an increase in this year, have added shares of Prakash Industries to 207% in this year as its balance sheet is strong. Along with that, shares of Parsvnath Developers increased by 82%, then Pankan Spirits’s share was up 11%. JK Infra’s share increased 38 percent, then the shares of companies like Modern Industries, VB Industries, Prime Capital Market, Gallant Steel etc. showed a gain.

Explain that SEBI has ordered these companies to do business only once a month, which will be on the first Monday of the month. According to analysts, 9 lakh crore rupees of 36 lakh investors are trapped in these companies. Along with these, large-scale mutual funds are also caught in it. The mutual funds invested in shares of these companies include HDFC Mutual Fund, Reliance Mutual Fund, UTI, DSP Blackrock and market leader Rakesh Jhunjhunwala as well.

Meanwhile, some companies can knock SAT’s door to challenge SEBI’s move. According to a leading company official, we can appeal in the matter soon in this case. There are some small companies whose shares have increased by 20,000 per cent. In this, Avanti’s share has risen 20,437% in 7 years from 8.78 to 1,803 rupees. In this, retail and HNI’s share is 18 per cent. Similarly, the share of Capillon Point rose by 12,223 per cent to Rs 758 from Rs 6.15.

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