This smallcap cement stock falls 9% as OFS opens for retail investors; 1-year return at 1738%
“The aggregate promoter shareholding as on February 26, 2024 is 95% of the total paid-up equity share capital of the company. Post completion of the aforesaid sale, the aggregate promoter shareholding in the Company would be reduced to 90% of the total paid-up equity share capital of the company,” noted the company’s filing.
![This smallcap cement stock falls 9% as OFS opens for retail investors; 1-year return at 1738%](https://cdn.zeebiz.com/sites/default/files/2024/02/28/282343-sensexmarketpti.jpg?im=FitAndFill=(1200,900))
Furthermore, the RSI or Relative Strength Index of below 50 indicates that more traders are selling the stock than buying and hence driving the price lower.