Moneycontrol Bureau
Shares of over a dozen mid-cap companies, including names like Tulip Telecom, Glodyne Tech, Pipavav Defence, Parsvnath Developers, Everonn and Nitin Fire, were down between 10-30% in morning trade. Brokers tracking second line stocks say the sell-off could most likely be the result of financiers dumping the shares pledged with them. In most of these companies, promoters have pledged anywhere between 46-90% of their holdings, and to raise money.
Prices at 3:30 pm
| Scrip Name | LTP | Chg | % Chg | % of Pledged shares |
| Tulip Telecom | 88.0 | -30.60 | -25.79 | 46.01% |
| Glodyne Tech | 273.6 | -68.35 | -19.99 | 83.99% |
| Pipavav Defence | 62.15 | -15.5 | -19.96 | 97.29% |
| Parsvnath Dev | 46.25 | -11.5 | -19.91 | 87.19% |
| Pradip Overseas | 68.4 | -17.0 | -19.94 | 89.48% |
| Era Infra | 114.9 | -28.7 | -19.99 | 79.07% |
| Everonn | 145.8 | -23.65 | -13.96 | 77.90% |
| Nitin Fire | 58.85 | -2.45 | -4 | 38.55% |
| Radico Khaitan | 101.3 | -13.65 | -11.87 | 43.55% |
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
