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

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OP BHATT SAYS: WANT 49% STAKE IN TATA MOTORS FINANCE, COMFORTABLE WITH 20-30% ALSO
VIEWS ON RATE HIKE: SBI: TO TAKE CALL ON LENDING RATES POST APRIL POLICY: OP BHATT
VIEWS ON RATE HIKE: OP BHATT: RBI MAY TIGHTEN KEY RATES IN APRIL POLICY AS WELL
VIEWS ON RATE HIKE: OP BHATT: BANKING SYSTEM CURRENTLY AWASH WITH LIQUIDITY
VIEWS ON RATE HIKE: UNITECH: SEE NO MAJOR HIT ON REALTY DEMAND POST RATE HIKE
VIEWS ON RATE HIKE: PURVANKARA: 25 BPS RATE HIKE MAY NOT NOT HIT REALTY DEMAND SHARPLY
VIEWS ON RATE HIKE: DLF: RBI RATE HIKE TO CURB DEMAND FOR REAL ESTATE
VIEWS ON RATE HIKE: GVK POWER: RBI ACTION TO BE NEUTRAL TO NEGATIVE FOR POWER COMPANIES
VIEWS ON RATE HIKE: INDUSIND BANK: TO WAIT AND WATCH BEFORE HIKING RATES OURSELVES
VIEWS ON RATE HIKE: KEKI MISTRY: HDFC NOT TO INCREASE RATES AT THE MOMENT
VIEWS ON RATE HIKE: ICICI BANK: NOT TO RAISE RATES AT THE MOMENT
RBI SAYS: INDUSTRIAL PRODUCTION DATA SHOWS UPTREND IS BEING MAINTAINED
RBI SAYS: PRICE RISE IN NON-FOOD MANUFACTURING GOODS ALSO A CONCERN
RBI SAYS: INDUSTRIAL PRODUCTION DATA SHOWS UPTREND IS BEING MAINTAINED
RBI SAYS: PRICE RISE IN NON-FOOD MANUFACTURING GOODS ALSO A CONCERN
RBI SAYS: PRICE RISE IN FUEL ITEMS ALSO A 'PARTICULAR CONCERN'
RBI SAYS: RISK OF WPI INFLATION CROSSING DOUBLE DIGITS IN MARCH
RBI SAYS: TO CONTINUE TO MONITOR MACRO ECO CONDITIONS, SPECIALLY PRICES
RBI SAYS: REVIVAL OF PRIVATE DEMAND COULD ADD TO INFLATIONARY DEMAND
RBI SAYS: RECENT IIP DATA SUGGESTS REVIVAL IN PRIVATE DEMAND
RBI SAYS: HIGHER RATES WONT AFFECT CREDIT GROWTH, RECOVERY
VIEWS ON RATE HIKE: STANCHART: RBI FOCUS SHIFTED TO INFLATION RATHER THAN GROWTH NOW
VIEWS ON RATE HIKE: STANCHART: NOT MUCH IMPACT SEEN ON BONDS MARKETS IN LONG TERM
VIEWS ON RATE HIKE: NCAER: RATE HIKE IS INSUFFICIENT: SUMAN BERRY
VIEWS ON RATE HIKE: NCAER: NO JUSTIFICATION IN RATE HIKE; RBI IS ALARMED
VIEWS ON RATE HIKE: CHIEF ECO ADVISOR: RATE HIKE NOT TO HAMPER INDUSTRIAL GROWTH
VIEWS ON RATE HIKE: CHIEF ECO ADVISOR: INFLATION COULD GET INTO DOUBLE DIGITS ON BASE EFFECT
VIEWS ON RATE HIKE: CHIEF ECO ADVISOR: GOOD MOVE TO CURB INFLATIONARY EXPECTATIONS
RBI SAYS: MONETARY STEPS SHOULD ANCHOR INFLATION EXPECTATIONS
RBI RATE HIKE: RBI RAISES REPO RATE FROM 4.75% TO 5%

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.