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Jyoti Structures dips below 15% on huge volumes

Jyoti Structures Limited’s stock is trading lower by 15.28% at Rs 9.7 per share. The stock was trading higher in the morning hours, but slipped in lunch hours in line with the performance of major indices in the market.
The low-priced stock attracted a huge volume of 81,06,619 shares and traded value of Rs 7.97 crore as of 14:29 hours on Friday. The stock slipped below its volume weighted average price of Rs 9.84 per share.
The stock has given 17.4% returns on a YTD basis, 30.86% returns in past one month, and 17% returns in past three months.
Jyoti Structures Limited is in the business of execution of projects relating to power transmission and distribution.
The Company is engaged in the manufacturing of transmission line towers, substation structures, antenna towers/masts and railway electrification structures.
Its principal products/services include power transmission and distribution business.
Stock View:
Jyoti Structures Ltd is currently trading at Rs 9.76, down by Rs 1.63 or 14.31% from its previous closing of Rs 11.39 on the BSE.
The scrip opened at Rs 11.5 and has touched a high and low of Rs 11.5 and Rs 9.48 respectively. So far 9376588(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 124.75 crore.
The BSE group ‘B’ stock of face value Rs 2 has touched a 52 week high of Rs 16.31 on 12-Jul-2016 and a 52 week low of Rs 7.98 on 31-Mar-2017. Last one week high and low of the scrip stood at Rs 12.55 and Rs 8.96 respectively.
The promoters holding in the company stood at 18.35 % while Institutions and Non-Institutions held 12.48 % and 69.17 % respectively.
The stock is currently trading above its 200 DMA.