Number of penny scrips up 50% since 2018; stocks in high-denominations drop

Companies with stock prices quoting in single-digits have surged over 50 per cent since the beginning of 2018. On the other hand, the universe of companies with stock prices in high-denominations is shrinking.   The trend underscores the weak sentiment in the market where companies with uncertain business outlook, governance concerns and high leverage are seeing an exodus of investors.   At present, there are 1,008 scrips — nearly a third of the listed universe — trading in single digits, up 52 per cent in the past 18 months. At the start of 2018, there were only 663 .....

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