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Our Bureau

Mumbai , April 5

AS anticipated by most market players, several investors failed to deliver shares of ONGC for trades done on last Monday and Tuesday.

The shortfall was over three lakh shares. This was seen from the shares that came up for auction today. For trades done on March 29 and March 30, settlement (combined) was on Friday due to bank holidays last week.

According to brokers, a total of around 2.58 lakh shares came up for auction on the NSE and around 58,000 shares on the BSE as a result of which a total of 3.16 lakh shares were auctioned.

Brokers said the quantity of shares auctioned was much less than what the market expected.

However, this quantity is higher than the shares auctioned on Thursday for previous Friday (March 26) trades when over 2.09 lakh shares were auctioned on NSE.

Brokers said though it was difficult to assess the exact loss suffered by investors, based on the closing price of last Monday's market price and today's auction price, the loss could be around Rs 73 lakh.

However, brokers said it was difficult to know exactly how many shares fell short for Monday and Tuesday trades. "It is difficult to know, but most of the shares that could not be delivered (short) would have been for Monday's trade as most of the investors were very cautious on Tuesday while trading in ONGC shares," said a dealer.

Brokers said these shares were auctioned at around Rs 867 compared to the today's closing price of Rs 853.70, down 0.72 per cent on NSE. But at the time of auction, the market price was similar to the auction price. The closing price for ONGC shares last Monday (March 29) was Rs 844.40 on the BSE and Rs 843.25 on the NSE.

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