Oct 06, 2008, 09.21 PM IST | Source: CNBC-TV18

Mkts slide: How have smallcaps fared?

The markets are falling like nine pins and small caps are also facing a similar fate. Spice Telecommunication is down about 14%. Jaipan Industries is down about 5%. Karuturi Global and Networth Stock Broking are two stocks that have been falling down on very high volumes.

The markets have crashed below the 12000 mark and small caps too have borne the brunt of the onslaught. Small caps are seeing a very bad advance-decline ratio with one stock advancing to about seven declines. Small cap stocks like Spice Telecommunication is down about 14%, Jaipan Industries is down about 5%.  Karuturi Global and Networth Stock Broking  have been falling down on very high volumes. 

 

However, there are some small caps that are holding up in the market; Gremach Infra is up about 8% and Kinetic Engineering up 5%.

 

Here is a verbatim transcript of Archi Damania ’s comments on CNBC-TV18. Also watch the accompanying video.

 

Small caps are seeing a very bad advance-decline ratio with one stock advancing to about seven declines. 20 Microns was listed in the small cap space today. It is not a very exciting listing. There was a block deal on that stock and about 8 lakh shares changed hands in early trade. There was also a block deal in Monnet Ispat and the stock is down about 5%, 4 lakh shares changed hands.

 

Spice Telecommunication is down about 14%. Today, is the last day for open offer for this stock.

 

Jaipan Industries is down about 5% but this stock has been running up very strongly in the past one month, it saw about 80% gains in one month. The board is meeting today to raise funds through FCCB and they will also consider a bonus.

 

Karuturi Global and Networth Stock Broking are two stocks that have been falling down on very high volumes. Karuturi Global is down about 13%. The total number of shares traded in the first hour of trades is more than its average. Networth Stock Broking is down about 17% in today’s trade.

 

The small cap metals space has not been spared; MSP Steel , Rohit Ferro , Lloyds Steel , and Uttam Glava are all down below 5%. In the real estate small caps space, MVL is down about 7%, and Landmark Properties is down 5%.

 

It is very difficult to pick gainers in this market. However, two stocks are holding up in the market. Gremach Infra is about 8% up and has been flying high since the announcement of its stake sale in its Mozambique subsidiary. Kinetic Engineering is up 5% after they announced that they would be rolling out gear boxes for the Tata Nano project.

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Spice Comm Karuturi Global Networth Stock
Sancia Global Kinetic Eng 20 Microns
Monnet Ispat Jaipan Inds MSP Steel
Rohit Ferro Tec Uttam Value Uttam Galva
MVL Landmark Prop

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