Shilpi Cable Technologies locked at lower circuit for 2nd consecutive day
DSIJ Intelligence / 27 Apr 2017
Shilpi Cable Technologies was locked at lower circuit of 20 per cent for second day in a row. The share price of the company stands at Rs 132.05 on Thursday.
Shilpi Cable Technologies was locked at lower circuit of 20 per cent for second day in a row. The share price of the company stands at Rs 132.05 on Thursday.
The stock price tanked 36.04 per cent from its level of Rs 206.45 on Wednesday's opening. The trading volumes on the counter jumped nearly five-fold.
Till 3:12 pm, a combined 106583 shares changed hands on the BSE and NSE.
In past one-year, the stock price of Shilpi Cable Technologies had zoomed 306 per cent on bourses.
On Tuesday, Shilpi Cable Technologies’ board meeting, scheduled to be held on April 25 was cancelled due to lack of quorum. It’s the second time, after April 18, that the board meeting was cancelled due to lack of quorum. Its board meeting was to consider and approve allotment of equity shares upon conversion of warrants.
On April 12, Shilpi Cables Private Limited, a promoter group company has submitted the request for conversion of 7 million convertible warrants into equity shares of the company as per the terms of the issue of such warrants.
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