Heard on the street: Traders in Aimco spread stake sale rumours

Punters are trying to salvage their holdings in shares of Ratnagiri-based agrochemicals company Aimco Pesticides by spreading rumours that the company is up for sale. The speculation is that United Phosphorous may be looking to buy out the company.

Aimco officials, when contacted, denied any such development . “It is just a rumour... we are not looking at any such deals or tieups ,” said Aimco compliance officer Priya Surti. The stock, which closed unchanged at 11 on Thursday, has fallen 8% in a month. Many traders and investors have been stuck in small-cap and penny stocks after the recent selloff.

Contributed by Shailesh Menon