Multi Finance joins the band

Another new entrant, Multi Finance, yesterday got caught to the SEC’s price band triggering formulae, joining Monday’s victim Swarnamahal Financial Services.

Listed by way of an introduction, Multi Finance shot up to a high of Rs. 44 before closing at Rs. 38.30, up by 20.8% or Rs. 6.60. Around 1.67 million of its shares changed hands via 1,253 trades for Rs. 66.7 million. Its all-time high is Rs. 65 whilst last week it rose 70 cents to close at Rs. 30.70.

Another new entrant via introduction Swarnamahal Financial Services (SFS) on Monday landed itself in the SEC’s price band after the share price shot up by nearly 75% or Rs. 30 to close at Rs. 69.90. It hit an intra-day high of Rs. 71.90.

Around 3.13 million shares (12.4% stake) changed hands via 2,935 trades for Rs. 196 million. Last week it gained by Rs. 3.90 with only 278,300 shares traded. Its highest share price was Rs. 100 when it debuted last month.