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HFT Scan: Algo traders zoom in on Just Dial and Likhitha Infra

Dial touched a 52-week high on April 18.

April 19, 2024 / 06:40 IST
High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds.
     
     
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    High-frequency trading was seen at the Just Dial,  Likhitha Infrastructure, and Foods and Inns counters on April 18. Just Dial touched a 52-week high during the day.

    High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between the spot and futures prices, but recently they have been active in small, illiquid stocks as well.

    The volumes generated by them, more often than not, attracts retail investors to these stocks.

    Stocks where HFTs were active on April 18:

    Just Dial
    Active names and traded stake: NK Securities Research Private Limited (0.52 percent), QE Securities (0.93 percent), Graviton Research Capital (0.68 percent)
    Stock movement and volumes: Gained 13.27 percent to Rs 1009.25. Trading volumes at 1 crore shares versus 1-month average of 9 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company on April 17 reported a 16.2 percent increase YoY in revenue to Rs 270 crore in Q4FY24.

    Likhitha Infrastructure
    Active names and traded stake: QE Securities (0.56 percent), Graviton Research Capital (0.86 percent)
    Stock movement and volumes: Gained 9.98 percent to Rs 307.5. Trading volumes at 37 lakh shares versus 1-month average of 6 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: No

    Foods and Inns
    Active names and traded stake: F3 Advisors Private Limited (0.55 percent)
    Stock movement and volumes: Gained 0.76 percent to Rs 165.9. Trading volumes at 18 lakh shares versus 1-week average of 8 lakh shares
    Technicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: On April 9 made Raymond Simkins and
    and Milan Bhupendra Dalal made an open offer to acquire 1.9 crore equity shares at Rs 147 each

    Moneycontrol News
    first published: Apr 19, 2024 06:40 am

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