CASTEXTECH (49.50) - Below was the tweet embed dated 14th July 2015
CASTEXTECH now at lower freeze so GAME OVER may be another 10--20--30 DAYS DOWN lower freeze session started.....— MURUGAVEL (@murugavell) July 14, 2015
Below is the chart, explains how it was panned out in the last 6 months
(click the chart to get the zoom view)
As on last Friday it was continuous 38 days lower freeze (everyday,with millions of shares, only sellers), don't know how many more days to remain so in lower freeze (in the last 38 days it is down from 344.55 to 49.50) So around 10000 shareholders of this company unable to exit even if they want to do so. Just imagine, how painful it was,
(info : I am not the holder / i was not the holder)
Leave this stock and its 10k odd shareholders financial loss and all that.
This kind of things happened in several stocks and several times in the past.
I am not go in depth, before this fall , why it was moved up vertically and all that.
(it is a known fact for me also,vertical rise only drag this vertical fall, it is a law of nature and law of market also)
For one reason or other . it may going to happen to any of the listed , non-index and non F&O, stocks.
Because our existing system is like that only.
Regulator must look into this mater very seriously
There may be several solutions to solve this issue and to my little knowledge, the following is, may be, one among them.
The solution is :
If any non-index/non F&O stocks got lower or upper freeze continuously say 3 or 5 days, it automatically should go to BE (spot) with no band. Let the actual buyer and seller will decide the price.
(when this option is available to index and F&O stocks . why not all other listed stocks ?) .
If anybody think that the issue is real concern , then take it the matter to the regulator.