Rolta India Stock falls prey to rumours

Call it the Satyam Phobia ! The Shares of Rolta India, an IT Company nosedived by almost 60% on rumours that the stocks pledged by promoters have been sold by creditors. Speculations were rife that some foreign funds have sold stake in the software firm.

The company’s stock plummeted to 3 Year low of Rs. 42.40 after this rumour. However, after the clarification from the company that the business and operations are in order, the stock bounced back to Rs. 87 down 17% from yesterday’s close.

3 comments:

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PENNY STOCK INVESTMENTS said...

Not a bad stock.