JPT Securities witnesses relentless run
Even at a time when the whole market is witnessing a shake-up, JPT Securities has been seeing a relentless run on the Bombay Stock Exchange. The stock has been hitting the upper circuit filter on a daily basis from May 9 when it was quoting at Rs 32.25. On Monday, the stock closed at Rs 137.05 a return of about 205 per cent in just one month's time. Trading volumes, which used to be a few thousand shares, have also been witnessing steady rise. The stock on Mo nday witnessed a volume of 1.12 lakh shares while on last Thursday 2.03 lakh shares changed hands.
According to brokers, the stock has been gaining ground on talk that a close business associate of a big industrial house is accumulating the company's shares.
They added that the stock of Horizon Infrastructure Ltd, which the business associate had earlier entered, shot up to a high of Rs 2,040 against its 52-week low of Rs 82.30 on the NSE. Horizon Infrastructure on Monday closed at Rs 1,720, a fall of 2.47 per cent over the previous day close.
According to market men, a few brokers are accumulating JPT Securities stock expecting similar gains