Profit booking by institutions may have triggered steep fall in Vakrangee: Ambareesh Baliga.

In a chat with ET Now, market expert Ambareesh Baliga, shares his view on Vakrangee Ltd.

ET Now: How would you look at this price movement in Vakrangee. Some are attributing it to pledging of shares. One of our guests Ashwani Gujral has pointed out about margin funding calls being figured. What is your view?

Ambareesh Baliga: It can be margin funding calls, it could just be the feel that okay we have made enough money, let us get out and this would be coming basically from the…

ET Now: But profit taking does not lead to a 20 per cent fall?

Ambareesh Baliga: No, once big boys start booking profits, it has a cascading effect because the rest of the people in the queue also want to exit the gate and there is only one gate.

ET Now: So you are saying it can get triggered by an institutional sell and then just have a ripple effect.

Ambareesh Baliga: And at the same time since we have seen fall in Kaveri Seeds stock in the past couple of days. We have also seen Amtek Auto falling. These are the memories which keep coming back to people, suggesting this stock could possibly see a similar sort of a fall and, therefore, exit before it falls more.