Emkay Global Financial hits lower circuit limit on triggering a freak trade

Emkay Global Financial Services plunged 10%, the maximum permissible limit, after the NSE disabled it from trading since the broking firm placed 59 erroneous orders that resulted in multiple trades with an aggregate value of over Rs 6.5 billion on behalf of an institutional client, which took the 50 share index lower by 900 points at 4,888.

Emkay Global Financial Services is currently trading at its lower circuit limit of Rs 31.10, down by 3.40 points or 9.86% from its previous closing of Rs 34.50 on the BSE.

The scrip opened at Rs 35.00 and has touched a high and low of Rs 35.45 and Rs 31.10 respectively. So far 23597 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 53.90 on 17-Oct-2011 and a 52 week low of Rs 22.05 on 28-Aug-2012.

Last one week high and low of the scrip stood at Rs 36.30 and Rs 29.70 respectively. The current market cap of the company is Rs 76.00 crore.

The promoters holding in the company stood at 73.24% while Institutions and Non-Institutions held 0.73% and 26.04% respectively.