We’ve spoken about Castex , which used to be Amtek India. It continues to fall to the circuit limit every day since it hit Rs. 360 a share, and is now at Rs. 86 per share and shows no sign of even trading a few shares. The parent of that company is Amtek Auto. This company too has been hammered, and has no “circuit” protection because it’s in the Futures and Options category. It has fallen from Rs. 175 in July to Rs. 63.6 today, a 63% fall! Here’s a daily chart: And a weekly chart: It’s back to the levels it was at in 2014 January. Why the Fall? There are way too many reasons. The company has been taken off the F&O list – so there will be no further futures or options contracts after October. This stock has seen huge interest in options and futures with the number of contracts reaching market wide position limits very often. … (Read On…)
[via Capital MindCapital Mind]
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