Many retail investors are stuck in SEL Manufacturing( SELMCL ) stock at higher levels. What went wrong with that stock? The Russia-Georgia war that started earlier this month has dragged down the share price of SEL Manufacturing along with it. The company’s 80% of the revenue comes from Russia and top 5 clients are from that country.The company’s share price which had witnessed a high of Rs 757 on August 5, has fallen about 60% to Rs 287 this Monday.
According to the buzz, it went down after a big HNI who holds an over 5% stake in the company started selling his holdings on concerns of fears of escalation in war. Company official said the company is not affected by the ongoing developments in any way. So far thousands of people have lost their lives in the war and thousands of investors have lost their money in this stock.Fearing that the war may go out of control and the company may lose its major business,informed investors have trimmed their exposure to this stock. The stock closed at Rs 287, almost flat from the previous close.
Popular Posts
-
What is Gold Bees or Gold ETF? Gold ETFs are open-ended mutual fund schemes that will invest the money collected from investors in stand... -
United Bank of India , a PSU Bank is coming out with an IPO of 50 million shares of Rs.10 each at a price band of Rs.60- Rs.66. The bank has...
-
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers.... -
Before we get into details of NSE Level 3 Data , it is important to first understand the basic operations of the stock market. All publicl... -
BPCL,HPCL and IOCL are going to be the big beneficiaries of the government’s decision to (1) bear the entire subsidy burden on cooking fue...