Kaveri Seeds gets volatile

Kaveri Seeds has been extremely volatile for the past couple of days, exactly like the way it is always. Yesterday, the stock breached the lower circuit at Rs.317.30 and today, the stock was up today almost 9.5% intra day at Rs.349. It remains strongly in the green currently with volumes surging almost 2 times.

The stock, which was touted by many as being in the “bear grip” is today behaving contrarion, surging up almost in defiance. The reason – Ashoka Pte bought , through a bulk deal on the NSE yesterday, almost 4 lakh shares at Rs.377.71/share.

The stock is under a cloud of doubt – there were rumours that SEBI has launched an enquiry into the company’s financials. There was news on the Whatsapp network that SEBI had ordered a look though there was no “official” word,  neither from SEBI nor from management of company.