Friday, September 30, 2011

ASCO hits all time high; 38 percent of company traded

Ascot Holdings (ASCO) yesterday crossed new territory as its share hit a lifetime high of Rs.196.30 during the day with 38 percent of the company trading.

Brokers said that although no sellers were on the board for ASCO at the close of trading, there were 1.4 million buyers and 88, 800 buyers at Rs.195 and 196.30 on the board respectively.

The share started trading at Rs.130 and shot up 50 percent to a record high of Rs.196.30 and closed at the same price. ASCO also became the number one turnover contributor for the day with Rs.537 million.

The number of shares traded was 3.07 million and no crossings were recorded.  In fact, the largest single trade that was executed was 47, 700 shares.ASCO has 8 million shares in issue and high net worth investor Nimal Perera had 17.7 percent stake as at June 30, 2011. After the trading hours, the share was slapped with regulator’s 10 percent price band.

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