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

News Flash

REJIG AT JSPL: RS SHARMA, FORMER CMD, NTPC TO JOIN JINDAL POWER AS THE MD: SRCS
TVS MOTOR TO NDTV: SEE 5% MKT SHARE & ANNUAL VOLUMES OF 3,00,000 UNITS BY 2013-14 IN INDONESIA
COTTON EXPORTS: INDIA TO LIMIT COTTON EXPORTS TO 5.5 MN BALES FROM OCT 1
RUPEE AT CLOSE: RUPEE CLOSES AT 46.63/$ VS 46.71/$ ON SEPTEMBER 2
ROUBINI: ECB POLICY SHOULD BE LOOSER; SUPPORT WEAKER EURO
U.S. ECO DATA: AUGUST NON-FARM PAYROLLS DOWN 54,000 VS CONSENSUS OF 1,05,000
U.S. ECO DATA: AUGUST UNEMPLOYMENT RATE RISES TO 9.6% VS 9.5% IN JULY
FUND ACTION: FOREIGN FUNDS NET BUY `147.90 CR ($31.62 MN) IN EQUITIES ON SEPT 2
FUND ACTION: MUTUAL FUNDS NET BUY `19.5 CR IN EQUITIES ON SEPTEMBER 2
FUND ACTION: DOMESTIC FUNDS NET SELL `123.5 CR IN EQUITIES ON SEPTEMBER 3 (PROVISIONAL)
FUND ACTION: FOREIGN FUNDS NET BUY `283.02 CR IN EQUITIES ON SEPTEMBER 3 (PROVISIONAL)
BOC INDIA: STARTS COMMERCIAL PRODUCTION AT THE DEHRADUN UNIT
NMDC: IN TALKS TO BUY STAKE IN ZIMBABWE ROCK PHOSPHATE MINE
BASF: BOARD TO CONSIDER MERGER OF UNITS WITH THE CO ON SEPTEMBER 9
NATCO PHARMA: CELGENE PLANNING COMPLAINT AGAINST NATCO PHARMA ALLEGING INFRINGEMENT
NTPC: MAY SET UP 1320 MW COAL-BASED POWER PLANT IN B'DESH IN JV WITH BPDB
ANANT RAJ INDS: ACQUIRES JUBILANT SOFTWARE SERVICE FOR `81 CR
MARKETS THIS WEEK: SMALLCAPS: EIH ASSOC HOTELS UP 62.4%, VINDHYA TELELINKS UP 42.6%
MARKETS THIS WEEK: MIDCAPS: UNITED BREWERIES UP 30.5%, KEC INTL UP 15.4%, NIRMA UP 14.3%
MARKETS THIS WEEK: NIFTY: BHARTI UP 7.5%, RANBAXY UP 7.2%, TATA STEEL UP 6%, UNITECH UP 5.3%
MARKETS THIS WEEK: FMCG INDEX UP 3.16%, BSE REALTY INDEX UP 3.05%, AUTO INDEX UP 2.96%
MARKETS THIS WEEK: CNX MIDCAP INDEX UP 1.84%, BSE SMALLCAP INDEX UP 2.75%
MARKETS THIS WEEK: SENSEX CLOSES UP 1.17%, NIFTY UP 1.26% FOR THE WEEK
TVS MOTOR TO NDTV: TO SET UP AN ENGINE PLANT & DESIGN CENTRE IN INDONESIA POST 2011
BAJAJ FINSERV: SEBI NOD AWAITED FOR MF BIZ; TO START OPS IN 9 MONTHS FROM APPROVAL
TATA STEEL: MAY SELL $1-1.5 BN IN BONDS WITHIN THE NEXT YEAR TO REPAY PORTION OF LOANS
TATA STEEL: CO PLANS TO REFINANCE AS MUCH AS $6.5 BN LONG TERM DEBT: CFO
TATA STEEL: SBI MAY ARRANGE GBP 1 BN OVER THE NEXT 7 YEARS
TATA STEEL: IN TALKS WITH BANKS FOR GBP 3.5 BN ($5.4 BN) IN LOANS FOR ITS U.K. UNIT
CIPLA: TO GIVE DETAILS OF POSSIBLE AFRICAN INVESTMENT IN 45 DAYS

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

Finance

Capital Market

Thursday, May 22, 2008 (New Delhi)

Blog

Comments:

Read (0)

Post

Rate the story

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.