It has been a disastrous trading session on 7th of dec 2010 for Uflex as the stocks hits the lower circuit on BSE and NSE.This happened when the news came across about the imprisonment of the CMD of the company Mr.Ashok Chaturvedi.
He was found guilty in the noida land scam along with former Chief Secratary of Uttar Pradesh.They both are imposed a fine of Rs 50,000 and 4 years imprisonment.
The Indian Stock Market is very much emotionally driven.As the news hitted the market,the stock lost the trust of investors and slipped 20% and closed on the lower circuit.
The fact around this sentimental behaviour is because the investors are worried about the global impact which Indian market gets from the global markets.As Uflex has been a trustworthy stock for investors,after seeing all this it is very much clear that investors are losing patience and trust in the Indian Market.
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