NHPC, SJVN under selling pressure on margins calls

MUMBAI: Heavy selling pressure was seen in shares of NHPC and SJVN in early trade as margin calls of Kolkata-based traders got triggered, say dealers.

According to dealers, the financials of duo are in good shape and there are no concerns of promoters’ pledged shares as these are government owned companies.

The current sharp fall in mid-cap sectors must have left traders dry and short of funds hence their portfolios were being liquidated.

Dealers are recommending staying away from these counters as more correction is anticipated in coming sessions as stop losses get breached.

At 10:15 a.m.; NHPC was at Rs 20, down 17.18 per cent on the BSE. It touched a high of Rs 21.80 and a low of Rs 17.90 in trade today. The volume in the stock was highest since listing day on September 1, 2009. Over 6.60 crore shares were traded in the counter in early trade.

SJVN was at Rs 19.40, down 4.90 per cent, on the BSE. It touched a high of Rs 20 and a low of Rs 18.40 in trade today. Around 1.99 lakh shares were traded in the counter.