The stock of Akruti City will be excluded from the F&O space after March expiry. The stock has seen some unusual moves over the past few days. It has surged from Rs 860 to over Rs 2,000 in the last one-month.
The Securities and Exchange Board of India (Sebi) is probing what could be behind this upmove. Sebi says that three brokers from Mumbai, Kolkata are being probed. Two Sebi teams are checking brokers' book
s on Akruti share price rise.
The stock is currently in a ban period. Futures crossed 95% of market-wide position limit. As of now, the members are allowed to unwind their positions, but increase in open positions will attract penal and disciplinary action. The stock will attract 5% circuit from March 27 after it moves to trade-to-trade (T2T) segment.
What now?
According to market experts, throwing the stock out of F&O is the right thing to do. Whether one has short April or March, that doesn’t matter, positions have to be covered in the next few days because after that there will be no Akruti in F&O.
Starting the week after, Akruti is probably a dead stock for a long time, but in the interim between Monday and starting today to next Thursday-Friday one will probably see the bulls partying even harder and the bears getting even more to a corner. Therefore, some more fireworks might happen on the stock taking it even higher from here. After that Akruti City becomes a Maytas, once it gets out of F&O and gets into T2T (trade-to-trade). There are possibilities of Rs 25-30 circuits on the stock, according to market experts.
source : www.moneycontrol.com/india/news/business/akruti-city-to-be-excludedfo-post-march-expiry/389624
The Securities and Exchange Board of India (Sebi) is probing what could be behind this upmove. Sebi says that three brokers from Mumbai, Kolkata are being probed. Two Sebi teams are checking brokers' book
s on Akruti share price rise.The stock is currently in a ban period. Futures crossed 95% of market-wide position limit. As of now, the members are allowed to unwind their positions, but increase in open positions will attract penal and disciplinary action. The stock will attract 5% circuit from March 27 after it moves to trade-to-trade (T2T) segment.
What now?
According to market experts, throwing the stock out of F&O is the right thing to do. Whether one has short April or March, that doesn’t matter, positions have to be covered in the next few days because after that there will be no Akruti in F&O.
Starting the week after, Akruti is probably a dead stock for a long time, but in the interim between Monday and starting today to next Thursday-Friday one will probably see the bulls partying even harder and the bears getting even more to a corner. Therefore, some more fireworks might happen on the stock taking it even higher from here. After that Akruti City becomes a Maytas, once it gets out of F&O and gets into T2T (trade-to-trade). There are possibilities of Rs 25-30 circuits on the stock, according to market experts.
source : www.moneycontrol.com/india/news/business/akruti-city-to-be-excludedfo-post-march-expiry/389624
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