The recent glitch is the first incidence of a major technical issue after MCX finally migrated to TCS platform in December. With trading stopped for over four hours now, the exchange could be liable to pay a hefty fee as mandated by market regulator SEBI
While some selling may have been the result of FPIs paring stake to comply with the new regulations, analysts say the big falls over the past few sessions were triggered by stock-specific negative news and overvaluation
For the December quarter, Laurus Labs reported a 88.5 percent year-on-year decline in profit at Rs 23.34 crore, with a 67 percent fall in CDMO-synthesis business