KIOCL, a PSU stock with almost 'zero' free float, falls after surging nearly 50% surge in three sessions
Published on 07/10/2025 09:45 AM
KIOCL, a PSU stock with almost 'zero' free float, falls after surging nearly 50% surge in three sessionsShares of the state-run company had surged on very significant volumes on Monday, where the overall volumes were double that of Friday's session. As many as 2.6 crore shares of KIOCL had changed hands compared to their 20-day average of 16.2 lakh shares.By Hormaz Fatakia October 7, 2025, 9:45:05 AM IST (Published)2 Min Read(Photo Credit : Bloomberg)KIOCL Ltd., formerly known as Kudremukh Iron Ore Company Ltd., saw its stock fall over 7% on Tuesday, October 7, after surging nearly 50% in the last three trading sessions.
The stock had risen 20% last Friday and repeated that move on Monday as well. The stock had also gained the Wednesday before the Thursday holiday.
Shares of the state-run company had surged on very significant volumes on Monday, where the overall volumes were double that of Friday's session. As many as 2.6 crore shares of KIOCL had changed hands compared to their 20-day average of 16.2 lakh shares.
However, Monday's delivery volumes were lower in comparison to Friday's session.
The stock sees exaggerated moves on either side as it does not have any free float in the market. Based on the latest shareholding pattern, the government held 99% stake in the country.
As of Monday's closing session, KIOCL had a market capitalization of over ₹38,000 crore and most of that value belongs to the government.
Monday's turnover on KIOCL was five times higher than the free float market capitalization of the company.
Tuesday's fall also comes on the back of heavy volumes. The stock has already seen close to 20 lakh shares change hands, in comparison to the 20-day average of 3.7 lakh shares.
KIOCL is involved in the iron ore mining business.
Shares of KIOCL are trading 7.8% lower on Tuesday at ₹578.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsshare market today