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% |
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