Shares of Orient Technologies Ltd. and Exicom Tele-Systems Ltd. hit the lower circuit on Monday, after their respective shareholder lock-in periods came to an end. Similarly, companies like Dr. Agarwal's Healthcare Ltd., Ecos (India) Mobility Ltd. and Vishnu Prakash R Punglia Ltd. also witnessed an over 5% drop in their stock.
Lock-in period is the time frame till when certain investors are required to hold shares of the newly listed stocks.
Orient Technologies declined 5% to hit the lower circuit of Rs 304.4 apiece on the NSE, as the six-month lock-in period for anchor investors ended. As many as 8 lakh shares or 2% of the total equity has now become eligible for trading in the open market.
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Exicom Tele-Systems also plunged 5% to hit the lower circuit of Rs 145.75 apiece on the NSE, after its one-month lock-in period for anchor investors ended. As many as 4.35 crore shares or 36% of the total equity has now become eligible for trading in the open market.
Ecos share price, post the exhaustion of six-month lock-in period, fell more than 6% to a low of Rs 167.11. As many as three crore shares of the company, or 50% of the total equity, has now become eligible for trading in the open market.
Dr. Agarwal's Healthcare share price also fell over 6% after 1.1 crore shares or 3% of the total equity became eligible for trading in the open market. The six-month lock was for anchors investors.
Vishnu Prakash R Punglia share price declined over 5% after its one-and-a-half-year lock-in period ended. As many as 2.5 crore shares or 20% of the total equity has now become eligible for trading in the open market.
Aeroflex Industries also fell over 7% to hit nearly seven-month-low after 2.6 crore shares or 20% of the total equity turned eligible for trading in the open market. Similarly, 74 lakh shares of Pyramid Technoplast's outstanding equity opened for trade after the lock-in period ended. The shares of the company fell nearly 10%.
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