Oracle Fin top loser on BSE

Oracle Financial Services Software is currently the top loser on the BSE currently. The stock is down over 5% at Rs.2570 and this is a recovery from the day’s low point at Rs.2535.55.

The stock has slumped as the market was expecting the company to announce delisting but instead, promoters have announced that they will pare their stake to comply with the minimum public shareholding requirements of the Listing Agreement. They will be reducing their shareholding in the company by 5.3%. Promoters currently hold 80.27%.