BROKERS and investors having positions in Orissa Mineral Development Company (OMDC) are waiting to trade on the shares when the company gets relisted on the Calcutta Stock Exchange this Saturday — the day of Muhurat trading. OMDC, which is making a comeback to the exchange after 25 years, could witness volatility as several investors would want to exit the company after having been locked in since 1984.
Market buzz is that the stock could close higher, as institutions would buy OMDC on “improved fundamentals”, which also include strong year-on-year growth. CSE has removed the circuit filter on the first day on OMDC for the price discovery of the stock. The stock is currently quoted at Rs 20,000 per share in the grey market.