Financial Daily from THE HINDU group of publications
Friday, Jan 06, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 06, 2006 |
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Stock Markets Markets - Stocks Tulip IT Services debut marred by trade error Our Bureau
Mumbai , Jan. 5 TULIP IT Services, listed on Thursday, grabbed attention as some of its shares on the BSE were traded at a mere 25 paise. The stock made its debut at 50 per cent premium to the issue price of Rs 120. Market players said these trades could have happened due to error at the brokers' end. Such trades happen as no circuit filter is imposed on stocks on the day of listing. In the normal course, stocks have circuit filters, which prevent prices from moving beyond certain limits. According to trading details on the BSE, Tulip IT Services stock has a low of 25 paise. These trades happened around 2.30 p.m. Just before this trade, the stock had been trading around Rs 180. The stock closed at Rs 182.55 on the BSE with a volume of 1.17 crore shares. On the NSE, it closed at Rs 183.50 with a volume of 1.53 crore shares. A trader said a few lakh shares would have been traded at 25 paise but this could not be verified. A spokesperson for BSE said that the exchange is looking into these trades and no decision has been taken.
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