A total of 23,839 shares changed hands on the counter till 02:11PM (IST)
A total of 23,839 shares changed hands on the counter till 02:11PM (IST)
The company on Saturday announced that it has secured a significant order for a carbon capture pipeline project in the United States. "This order is for the supply of 785 miles (1,256 KM) or 100,000 MT (approximately) of high-frequency induction welding (HFIW) pipes, and would be used for transporting captured carbon dioxide," the filing said.
The trend is eerily familiar to market participants in Hong Kong, which was a hotbed for mysterious moves in tiny stocks before a regulatory crackdown brought new offerings to a virtual halt. As small Chinese companies that might otherwise have listed in Hong Kong turn to the US as an alternative, Network 1 has emerged as one of the most active players in this growing corner of the market.
The Nikkei share average dropped 2.95% shortly after markets opened and closed down 2.78% at 27,818, after the Nikkei newspaper reported that the BOJ conducted a rate check in apparent preparation for currency intervention amid sharp declines in yen.
"We believe a slowdown in discretionary IT services spend around the growth and transformation agenda will be quite material and something not yet completely reflected in the street's double-digit revenue growth forecast for the industry for FY24," Goldman analysts said in a note.
On the technical charts, the 200-day moving average of the stock stood at Rs 4500.04.
As of 30-Jun-2022, promoters held 74.03 per cent stake in the company, while FIIs held 8.42 per cent and domestic institutional investors had 5.09 per cent.
Despite a sharp selloff in the secondary market, the company has not lost ground in the unofficial market and commands a premium of Rs 220-230, which translates into an upside of about 70 per cent over its price band of Rs 314-330.
According to the data from BSE, 24,76,925 shares exchanged hands in early trade. Similarly, 3,84,31,431 shares exchanged hands on National Stock Exchange (NSE).Shares of Coffee Day Enterprises have risen as much as 153 per cent from their 52-week low.