Penny stock Sylph Technologies soars as trading resumes after suspension of 6 years

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U.S. MARKETS: ENERGY STOCKS WERE THE ONLY DRAGGERS ON S&P 500; HEALTHCARE GAINS
U.S. MARKETS: S&P CLOSES AT A 17-MONTH HIGH AT 1150; BANKING STOCKS GAIN, CITIGROUP UP 5%
U.S. MARKETS: DOW JONES UP 0.42%, NASDAQ UP 0.4%, S&P 500 UP 0.4% (THURSDAY CLOSING)
BROKERAGE VIEWS: CITI: PANTALOON IS WELL PLACED TO BENEFIT FROM CYCLICAL UPSIDES
BROKERAGE VIEWS: CITI: RAISES TP FOR PANTALOON TO RS.456/SHARE TO RS.370/SHARE
BROKERAGE VIEWS: MACQUARIE: GSK IS TRADING AT 10% PREMIUM TO SECTOR MULTIPLES
BROKERAGE VIEWS: MACQUARIE: DOWNGRADES GSK PHARMA TO NEUTRAL FROM OUTPERFORM
BROKERAGE VIEWS: CITI: FORTIS' PARKWAY BUY VALUES IT AT US$2.8BN & EV/ EBIDTA OF 23XCY10E
BROKERAGE VIEWS: CITI: FORTIS LIKELY TO RAISE SIGNIFICANT DEBT & EQUITY TO BUY PARKWAY
F&O CUES: FRESH SHORTS SEEN IN SUGAR STOCKS
F&O CUES: STOCK FUTURES ADD 90 LAKH SHARES IN OPEN INTEREST
F&O CUES: CALL UNWINDING SEEN IN 5100 AND 5200 CALLS
F&O CUES: TOTAL BUILDUP IN THE 5000 PUT RISES TO A RECORD 1.21 CRORE SHARES
F&O CUES: PUT WRITING CONTINUES UNABATED AT 5100 AND 5000
F&O CUES: NIFTY MARCH PUT-CALL RATIO RISES TO OVERBOUGHT LEVELS OF 1.74
F&O CUES: NIFTY MARCH FUTURES SHED 9.1 LAKH SHARES IN OPEN INTEREST
F&O CUES: LATE SHORT COVERING PUSHES NIFTY MAR FUTURES TO A DOUBLE DIGIT PREMIUM
MAHINDRA SATYAM: SIGNS NEW FOUR YEAR OFFSHORE CONTRACT WORTH $48 MN WITH KMD
RAMALINGA RAJU: FILES BAIL APPLICATION BEFORE SUPREME COURT
MARUTI SUZUKI: EUROPEAN DEMAND SEEN LOWER IN FY'11 AS SCRAPPAGE PLAN DISCONTINUED: NW
MARUTI SUZUKI: NISSAN TO BUY 35,000 A-STAR FROM CO IN FY'11: NW
MARUTI SUZUKI: BOARD TO MEET ON MARCH 27 TO FIRM UP FY'11 PLANS: NW
NMDC FPO UPDATE: NMDC FPO SUBSCRIBED 0.79 TIMES ON DAY 2 OF ISSUE
M&M FINANCIAL: GOOD ASSET LIABILITY MATCH WILL HELP NEGATE MINOR INTEREST RATE HIKES
INFLATION UPDATE: FOOD ARTICLES INFLATION FOR WK ENDED FEB 27 AT 17.81% VS 17.87% (WOW)
U.S. ECO DATA: CONTINUING CLAIMS FOR WEEK ENDED FEB 27 UP 37,000 AT 4.56 MILLION
U.S. ECO DATA: INITIAL JOBLESS CLAIMS FOR WEEK ENDED MARCH 6 DOWN 6000 AT 462,000
FUND ACTION: DOMESTIC FUNDS NET SELL RS.202.7 CR IN EQUITIES ON MARCH 11 (PROVISIONAL)
FUND ACTION: FOREIGN FUNDS NET BUY RS.304.87 CR IN EQUITIES ON MARCH 11 (PROVISIONAL)
FUND ACTION: FOREIGN FUNDS NET BUY RS.418.2 CR ($92.09 MN) IN EQUITIES ON MARCH 10

Updated: 22/05/2008 | 12:00 AM IST

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Capital Market

Thursday, May 22, 2008 (New Delhi)

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At 12:11 IST, the stock was trading at Rs 525. The stock debuted at Rs 152, hit a high of Rs 800 and low of Rs 152 so far in the day. There are no daily circuit filters in the stock pertaining to today’s trading to facilitate price discovery due to resumption of trading after a gap of six years. 2,000 shares changed hands in the counter on BSE so far.

The stock was last traded at a mere 80 paise on BSE on 15 February 2002.

The company is engaged in the business of software development including data processing and web site maintenance. It reported a net profit of Rs 0.09 crore on net sales of Rs 0.15 crore in the quarter ended March 2008. The company’s equity capital is Rs 4.71 crore and earnings per share (EPS) is miniscule. Face value per share is Rs 10.

The stock is traded in Z group of BSE. As per shareholding data as on 31 March 2008, 73,600 shares out of a total public holding of 35.86 lakh shares (just 2% of total public holding) were in demat form as on 31 March 2008.

It may be recalled that an abnormal gyration in another stock KGN Industries in which trading had resumed on Wednesday, 21 May 2008, after an suspension of seven years, had forced BSE to suspend trading in the stock for that day in afternoon trade. The unusual gyration in that stock was due to absence of daily circuit filters.