Barring one stock, six others which came under heavy selling on Monday following the alleged unearthing of a “stock market scam” by the Intelligence Bureau (traced to Ketan Parekh and his associates), pulled back from the lows they hit yesterday.

The recovery was accompanied by huge volume within minutes of trading today, indicating that the day traders were making the best of both

negative and positive developments after some of the companies named in the report denied any knowledge of manipulation.

Dewan Housing Finance Corporation Ltd surged by Rs 7.50 or 4.78 per cent to Rs 164.30 with a trading volume of 1.44 lakh

shares on the NSE within 15 minutes of trading.

Goenka Diamond and Jewels Ltd sizzled, up by Rs 6.55 or 4.07 per cent to Rs 167.45, but with a relatively muted volume of 89,867 shares.

However, the scrips of Orchid Chemicals and Pharmaceuticals Ltd, Tribhovandas Bhimji Zaveri, Pantaloon and GMR Infrastructure Ltd witnessed a relatively subdued recovery.

Orchid was trading at Rs 120, up by Rs 1.20 with a trading volume of 1.21 lakh shares. It had closed at Rs 118.80 yesterday. GMR Infra was up just 25 paise to Rs 25.05 but the volume of trading was high at 3.01 lakh shares.

TBZ gained Rs 1.95 to Rs 113.65 with a trading volume of 1.81 lakh shares. Pantaloon Retail was trading at Rs 185.95, up by Rs 1.15 with a volume of 4.76 lakh shares. But IVRCL was still in negative territory, trading at Rs 48.75, a loss of 45 paise with a trading volume of 16.64 lakh shares.

(This article was published on July 10, 2012)
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