Shilpi Cable tanks 20% on heavy volumes

In past one-year, the stock had zoomed 279% against 16.6% rise in Sensex till Tuesday.

Shilpi Cable Technologies was locked in lower circuit of 20% at Rs 165 on BSE on back of heavy volumes with no buyers seen on the counter.

The stock tanked 24% from its opening level of Rs 217 on BSE. The trading volumes on the counter jumped nearly five-fold. 
 

Till 12:50 pm; a combined 1.61 million shares changed hands and there were pending sell orders for 697,125 shares on the BSE and NSE.

Shilpi Cable Technologies on Tuesday after market hours informed the stock exchanges that the board meeting which was scheduled to be held on April 25,