Here’s Why This Small-Cap Stock Crashed Over 11% on Tuesday

Published 30-11-2021, 05:20 pm
Updated 30-11-2021, 05:20 pm
© Reuters.

By Malvika Gurung

Investing.com -- Shares of the chemical industry company Sigachi Industries Ltd (NS:SIGC) tumbled over 11% on Tuesday’s session, closing at Rs 411.95 apiece, after falling about 14% to Rs 400 on the BSE today, due to heavy volumes of about 1.74 million equity shares transactions.

According to a BSE notice dated November 15, 2021, the equity shares of Sigachi Industries was to be transferred from T2T segment (Trade to Trade) to the Rolling segment, starting Nov 30, i.e., today. Accordingly, the dealings of the shares would be shifted under BSE’s ‘B’ group.

As a result of this transfer in segments from T2T to Booking (NASDAQ:BKNG), the microcrystalline cellulose manufacturing stock crashed about 14% to Rs 400 apiece, listing among the top losers in the BSE's B group on Tuesday. A total of 3.64 lakh shares were traded on the BSE today, compared to the daily average of 1.44 lakh shares in the past month.

Over the past four days, the stock has plummeted 26% due to profit booking and 38% since its highest level of Rs 648 touched on Nov 17, 2021.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.