The Hindu Business Line : Ramkrishna Forgings turns weak

Ramkrishna Forgings, manufacturer of steel forgings, took a huge 20 per cent hit on the NSE, dropping to close at the day's low of Rs 70.20. The free fall, marketmen say, is due to a concerted selling pressure that was noticed early during the day, which discouraged potential buyers from entering in any perceptible manner.

The stock, which recorded a modest volume of 65,000 shares on the NSE, is now near its 52-week low of Rs 63.50. Weakness in metal market, particularly steel, also seemed to have affected this stock.

Recent activity in the counter is partly owing to affirmative action taken by mutual funds, it is pointed out. Reliance MF, which held over 8 per cent in the company at the end of the last quarter, is again known to have taken an interest lately.

Nilanjan Dey

More Stories on : Stocks | Ear to the ground | Bearings | tings & Forgings

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Sundaram BNP plans Small Cap Fund

Fidelity MF foray into fixed-income space

UTI MF launches market-neutral fund

Investors turning to SIPs

Jewellery foray keeps Titan ticking

Many stocks dip below IPO price

Ramkrishna Forgings turns weak

Bear domination

Sensex crashes by 461 pts

Foreign funds go bottom fishing in mid-cap pool

Ashok Leyland plans to raise Rs 700 crore for capex

FIIs, banks can soon trade in commodities

`We are investing in stocks more from a longer-run perspective'

Interest rate hikes trigger sell-off across markets

19 charge-sheeted in CSE scam

Dalmiya interim bail plea