The shares of the International Gemological Institute Limited (IGI) are facing a rapid decline these days, and on Tuesday 18 March, investors are closely eyeing the stock.
- The reason for this is that the three-month lock-in period of the company’s shares is going to end.
- On Monday, IGI shares declined by up to 4%, and it came to a level of ₹ 296.
- Significantly, after the listing, IGI shares made a high of ₹ 642, but now it has fallen 55% to a low level of ₹ 282.
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What is the meaning of lock-in period expiry?
- On March 18, IGI’s 2.28 crore shares (5%of the total equity of the company) will be eligible for trading.
- This does not mean that all these will be sold in the stock market, but now they will be available for business in the open market.
What will be its effect?
- If a large amount of shares are sold, the stock may fall further.
- If investors have a share hold, the stock may remain stable.
IGI shares
- The IGI stock closed at ₹ 296 on Monday, indicating a fall of 4%.
- Previous closed price – ₹ 308.90
- Today’s Intra-Day High-₹ 313.9
Performance in the last few months:
- Out of the last 6 trading sessions, 5 have declined.
- The stock has broken up to 30% in the last 1 month.
- So far this stock has fallen by 50% in 2024.
