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HFT Scan : Vodafone Idea and Paras Defence in focus

Vodafone Idea, ETT Limited, Paras Defense and Space Technologies

May 27, 2024 / 07:33 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 active in Vodafone Idea, ETT Limited, Paras Defense and Space Technologies on May 24. All the stocks closed higher.

    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 May 24 :

    Vodafone Idea
    Active names and traded stake: HRTI Private Limited (0.59 percent)

    Stock movement and volumes: Gained 7.47 percent to Rs 15.10. Trading volumes at 370 crore shares versus 1-month average of 120 lakh shares

    Technicals: Stock is above 50-DMA and 200-DMA

    Fundamental trigger, if any: No

    ETT Limited
    Active names and traded stake: Multiplier Share and Stock Advisors Limited (5.06 percent), Santosh Kumar Kushawaha (4.8 percent), Jai Vinayak Securities (1.65 percent), Preeti Sagar (0.93 percent), Matalia Stock Broking Limited (0.82 percent), Kaushal Hiteshbhai Parekh (5.4 percent)

    Stock movement and volumes: Gained 4.98 percent to Rs 33.7. Trading volumes at 37 lakh shares versus 1-month average of 7 lakh shares

    Technicals: Stock is above 50-DMA and 200-DMA

    Fundamental trigger, if any: The company on May 16 announced its Q4FY24 results

    Paras Defence and Space Technologies 
    Active names and traded stake: Graviton Research Capital (0.96 percent), NK Securities (0.94 percent), HRTI Private Limited (0.57 percent)

    Stock movement and volumes: Gained 10.3 percent to Rs 859.15. Trading volumes at 90 lakh shares versus 1-month average of 4 lakh shares

    Technicals: Stock is above 50-DMA and 200-DMA

    Fundamental trigger, if any: No

    Moneycontrol News
    first published: May 27, 2024 07:33 am

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