Massive Spike in Delton Cables’ Share Price and Trading Volumes
Within span of less than three trading sessions, between 11th and 13th January 2021, Delton Cables’ share price moved between a low of INR 36.00 on 11th to a high of INR 56.90 on 13th January (about 58%). The cable manufacturer’s share price opened at INR 37.55 on 11th January and the closing on 13th January was INR 47.70 (an increase of about 27%).
There was a significant jump in Delton Cables’ trading volumes as well. A cumulative of 89,576 shares were traded between 11th and 13th January. This against an average trading volume of approx. 7,000 shares (30 day average).
Today, BSE Limited has asked for clarification from New Delhi based Delton Cables Ltd. in reference to significant movement in the prices of its shares. The clarifications have been sought in order to safeguard the interest of investors.