Mid-Cap Carnage…Core Education tanks 60%

At 12:45pm (IST), the BSE Sensex was down 24 points at 19292.

February 25, 2013 12:45 IST | India Infoline News Service

Shares of Core Education Ltd slipped 61% after opening at Rs296. The stock has hit a high of Rs296 and a low of Rs103. Total traded quantity on the counter stood at over 11.90 lakh shares.

Market has slipped in to the red in the afternoon trades amid heavy selling in the mid-cap and the small-cap stocks. 

At 12:45pm (IST), the BSE Sensex was down 24 points at 19292. It earlier touched a day’s high of 19382 and a day’s low of 19262. It opened at 19365.

The NSE Nifty was quoting flat at 5,844. It earlier touched a day’s high of 5,874 and a day’s low of 5830. It opened at 5,870.

According to media reports the pledged shares issue has once again surfaced leading to a heavy offloading in the mid-cap and the small-cap stocks.

The BSE Mid-Cap and the BSE Small-Cap index have declined by 1.25% each.

Infosys, Ranbaxy, Power Grid Corporation, IDFC, Ambuja Cement Tata Motors, Wipro,TCS, Maruti Suzuki, State Bank of India, Jindal Steel are among gainers in Sensex and Nifty.

Coal India, DLF, BPCL, UltraTech Cement, Kotak Mahindra Bank, Cipla, ONGC, Hero Motocorp, Dr Reddy’s Labs, Bharti Airtel, Reliance Industries are among losers in Sensex and Nifty.

IT, Teck, Auto, Power, Bankex and HealthCare are the gainers.

Realty, Oil and Gas, PSU, Metal, Capital Goods, FMCG and Consumer Durables indices are the losers.

Core Education has slumped by 60%, Welcorp has nose dived by 30%, DB Realty has declined by 10%, ABG Shipyard has plummeted by 20%, Eros International has slipped by 20% and Opto Circuit has fallen by 15%.

IIFL’s fourth Enterprising India Global Investors’ Conference is underway in Mumbai.

Results watch: Dhanus Tech, Fulford India, Pantaloon Retl


Trends in FII flows: The FIIs were net buyers of Rs2.80bn in the cash segment on Friday,  while the domestic institutional investors (DIIs) were net sellersof  Rs3.51bn, as per the provisional figures released by the NSE.

The foreign funds were net buyers of Rs22.35bn in the cash segment on Thursday, according to the SEBI figures.

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