Bondada Engineering’s share price has seen significant losses in the last three days, even though a company promoter raised his stake in the telecom infrastructure firm through an open market transaction.
A promoter’s increasing stake in a company is generally seen as a positive for the stock because it indicates the promoter’s confidence in the healthy growth prospects of the company and its sound financial health.
On Thursday, March 13, the small-cap stock opened at ₹376.90 against its previous close of ₹367.70 and dropped 3.2 per cent to the level of ₹356. At this price, the stock has lost over 10 per cent in three days, including Thursday.
