Most of the investors are stuck in this stock.This stock is slipping down and down and is a nightmare for most of the investors.Recently company had declared results and Net income was hurt by lower realizations and a drop in volume.Currently the stock is trading around 174.4 INR.The scrip slipped to 14.78% on the BSE, the steepest since May 17, 2003, to close at Rs176.95, a two-year low.
Recent news about stock that might be reason behind this move
- Bad results (net profit dropped 58.4% )
- Companies Vice chairman Sudhir Trehan Sold his entire holding in Crompton of 180000 shares between June 29 and July 1 at an average price of Rs 260.30, netting a total of Rs4.7 crore.
- Company announced a 41% stake buy in group company Avantha Power for Rs227
- Securities market regulator Sebi is going to probe whether any bear cartel was behind this step fall in the share price by spreading rumours about company.According to sources sharp fall on July 19-20 has come under the Sebi scanner as it coincided with wide-spread rumours of alleged violation of insider trading rules by the company's former chief Sudhir Trehan.
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