Kwality Ltd's share tanks 40%

The share price of Kwality Ltd has been hit due to a selling spree by unknown sources. The stock suddenly plunged during the closing moments on March 27, 2018 with huge pending order for sale in both BSE and NSE. The stock continued its downside on Wednesday, March 28, 2018 as well. The stock is currently locked at 20% lower circuit of Rs. 59.05 in NSE and Rs. 60.35 in BSE.

The company also clarified to the stock exchanges in reference to the downfall in the share price of the Company. With reference to the same, this is to say that there is no strategically significant development within the organisation and business. Also in recent there is no such event which is not reported by the Company to the stock exchanges. The Company is committed to deliver sustainable value to its shareholders at all time.

The company also recently launched several new products and increasing its B to C business from existing B to B business. The company also added 'Thandai' to its Flavoured milk bouquet of offerings in February 2018. The procurement prices for milk has also gone down 20% in last few months and the company also said it expects the price to go up by 5% due to approaching summer months.

In BSE, the total traded quantity on March 27, 2018 was 10,63,805 equity shares and the deliverable quantity was 5,65,522 equity shares or 53.16% of the traded quantity. The stock hit an intraday high of Rs. 84.2 and intraday low of 65.75. The net turnover during the day was Rs. 86478849.

In NSE, the total traded quantity on March 27, 2018 was 33,54,322 equity shares and the deliverable quantity was 19,63,769 equity shares or 58.54% of the traded quantity. The stock hit an intraday high of Rs. 84.15 and intraday low of 65.7. The total turnover during the day was Rs. 264023542.8.

Today, the total traded quantity in NSE at 12:56 PM was 2168671 shares and 2666012 shares pending for sale at NSE.

Source : Equity Bulls

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