ESDS Software Solution share price hit the 5% upper circuit on Wednesday, October 7, snapping a seven-session losing streak, amid a sharp increase in trading activity. The stock witnessed a significant surge in volumes compared with its recent averages
ESDS Software Solution recorded a volume of 25,17,952 shares, compared with an average volume of 58,340 shares, marking a 43.16-times increase. Against another average volume of 6,05,755 shares, the change stood at 4.16 times. The stock’s LTP was ₹1,359, up 5%, with traded value of ₹34,184.22 lakh.
Despite Wednesday's recovery, the stock had lost 10% over the past week and 24.15% over the previous two weeks. The recent correction followed a much stronger run over the longer term, with the shares still up 25% in the past month and a massive 217% above their issue price of ₹429.
The stock's latest move also came shortly after the expiry of the company's one-month shareholder lock-in period on Monday. Following the expiry, around 3 million shares, equivalent to 2% of ESDS Software Solution's total outstanding shares, became eligible for trading.
However, the end of the lock-in period does not automatically mean these shares will be sold. It simply allows the previously locked-in shares to be traded in the market.