Stock prices of Tata Motors and UltraTech Cement, on Friday, dipped on the National Stock Exchange (NSE).
The block sales orders were at much lower than the prices at which the companies were trading at the time, sending shares crashing.
It was speculated as a freak trade reminding the market of the erroneous orders placed by Emkay Global that sent the stock market falling in October last.
“Some brokers put a sell order in these stocks and the price of two stocks fell,” said one broker who preferred anonymity. However “it didn’t cross the 10 per cent exchange limit,” he added. “Orders came from a trading member.
“We are looking into which led to the fall in prices of these two stocks. The orders were within the exchange limit,” a National Stock exchange official told this correspondent.
Tata Motors shares fell as low as Rs.268.25 before closing at Rs.281.65, down 5.80 per cent, while UltraTech Cement fell as low as Rs.1,712.35 but later closed at Rs.1,837.75 with a loss of 3.52 per cent.
If Emkay Global is responsible for crashing Tata Motors Share prices, why that firm should not be kept out of BSE/NSE trading and punish for wrong trading. I too sustained substantial amount in trading of Tata Motors. If Investors are cheated infront of SEBI and SEBI justifying the action on the ground of 10% limit, SEBI can not be said it stands for protecting Investors. Any how SEBI too is held responsible for this unfair trade practice.
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