- Thinksoft Global Services has frozen at the lower circuit of 10% at Rs 286 on the BSE ahead of its entry into the trade-to-trade segment.
- The counter saw low trading volumes of around 54,000 equity shares during the day compared with the 2-week average of 1.2 million shares. There were pending sale orders of 98,507 shares.
- Having been frozen at the lower circuit circuit of 20% on Tuesday and Wednesday, the stock has shed 42% in the last three days from the Rs 496.10 level seen on February 15.
- A scrip is put under the 'T' group as a surveillance measure to counter unwarranted movements. Shares traded under the 'T' group have to be settled at delivery as one is not permitted to square off the positions on the same day.
Caution: Whenever there is new listing normally the volumes are high and momentum is strong but there is no yardstick that says any company has to list at premium or discount but over a period of time only goodwill in market is established. It is advisable to avoid euphoria in newly listed stocks and study the company more in detail before investing.
About THINKSOFT: Thinksoft Global Services is a financial software testing company.
Website: http://www.thinksoftglobal.com/
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