Shilpi Cable Stock Gets Locked In Lower Circuit, Again

The Shilpi Cable Technologies Limited stock is locked in its lower circuit of 5% at Rs 60.9 per share on BSE as of 1041 hours. The leading national business daily reported that the Singapore-based creditor has filed a case against the company for around USD 10 million. The investors went on a selling spree in the morning hours on Tuesday.

The stock has lost around 70% in the past 14 trading sessions. As per the media reports, the company has pledged its shares and the management is struggling with a slew of resignations, that further depleted the stock of the company.

The investors were seen to be panicked and started selling the stocks of Shilpi Cable. The stock has been getting locked in the lower circuits for the past few trading sessions.

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