Sintex Industries tanks nearly 8% on FO exclusion

Shares of Sintex Industries today declined nearly 8 percent on heavy selling after National Stock Exchange said the counter was being excluded from its derivatives segment.

The company's scrip tanked 7.93 percent to close the day at Rs 43.55 on the NSE.

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On the BSE, the scrip was down 7.49 percent to Rs 43.85 at the end of the day's trade.

On the volume front, 6.33 lakh shares of the company changed hands on the BSE. Over 41.91 lakh shares were traded on the NSE.

The market capitalisation of the company fell by Rs 112 crore to Rs 1,372 crore.

"Participants are requested to note that Sintex Industries Limited shall not be available for transactions in Securities Lending & Borrowing Scheme (SLBS) with effect from August 30, 2013," the NSE said in a circular yesterday.

Drop in the stock was in line with an overall weak stock market where the BSE benchmark Sensex plunged by 526.41 points to close at 18,719.29.