This small-cap stock fell 53% in a week after hitting its fifth consecutive lower circuit.
During intraday trading on Friday, Kamdhenu Ventures’ shares were stuck around the 5% lower circuit for the fifth day in a row.
In intraday trade on Friday, shares of Kamdhenu Ventures closed at Rs 27.22 on the BSE, down 5%, with no purchasers at the counter, locking the shares at the lower circuit for the fifth consecutive day. This small-cap company’s stock price dropped 53% in the last week from a peak of Rs 58.31. By contrast, the BSE Sensex saw a 5% decline.
Kamdhenu Ventures’ stock price was trading around its October 30, 2023, 52-week low of Rs 27.12. September 26, 2024, was the record high. It was then worth Rs 58.57. tiny
According to exchange statistics, until 02:46 pm, 1.4 million equity shares were exchanged, and there were pending sell orders on the NSE and BSE for a total of 7.56 million shares.
In a recent exchange filing, Kamdhenu Ventures stated that since September 27, 2024, the business has been getting calls and emails concerning abrupt negative price movements in its shares at stock exchanges.After obtaining an order for power transmission projects worth ₹ 1,241 Cr, infrastructure stock rises by 4%.
The corporation made it clear that there is no news that would jeopardize the company’s ability to continue as a going concern and that both the paint business and the facility are operating routinely and effectively. It further stated, “Please take note that there is no connection or gain of any kind between the management and promoters of the company and any increase or decrease in the share price of the company.”
Furthermore, Kamdhenu Ventures restated that the business does not know what is causing the abrupt decline in the company’s share price. Any change in the company’s share price or volume is solely driven by the state of the market and is not related to any other factor. The business said it had no influence over the current state of the market.
The shares went ex-split in the ratio of 1:5, or from face value of Rs 5 to face value of Re 1, on June 14, 2024. The board has approved the subdividing of equity shares in order to increase the liquidity of the business’s equity shares and to promote participation from small investors by lowering the cost of investing in company equity shares, the firm had stated.
Disclaimer: The above article is for educational and news purposes, this is not a buying or selling recommendation. TraderPulse recommends that users to check with certified experts before making any investment decisions.
