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HFT Scan: Solara Active Pharma Sciences and TruCap Finance in focus

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Solara Active Pharma Sciences touched a 52-week high on April 22.

April 23, 2024 / 06:22 AM IST

High-frequency trading firms (HTFs) - or algo firms on steroids -use complex algorithms and powerful computers to execute trades at lightning speeds.

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High-frequency trading was seen in Solara Active Pharma Sciences, TruCap Finance, and Gujarat State Petronet on April 22. Solara Active Pharma Sciences touched a 52-week high on April 22.

High-frequency trading firms (HTFs) - or algo firms on steroids -use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between the spot and futures prices, but recently they have been active in small, illiquid stocks as well.

The volumes generated by them, more often than not, attracts retail investors to these stocks.

Stocks where HFTs were active on April 22:

Solara Active Pharma 

Active names and traded stake: Graviton Research Capital (0.77 percent), HRTI Private Limited (0.67 percent), QE Securities (0.66 percent), Microcurves Trading Private Limited (0.62 percent)

Stock movement and volumes: Gained 4.98 percent to Rs 579.2. Trading volumes at 52 lakh shares versus 1-month average of 8 lakh shares

Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: No

TruCap Finance

Active names and traded stake: Jainam Broking (0.62 percent)

Stock movement and volumes: Gained 0.96 percent to Rs 62.95. Trading volumes at 19 lakh shares versus 1-month average of 18 lakh shares

Technicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: The company on April 22 has approved raising around Rs 100 crore via issuance of convertible warrants

Gujarat State Petronet

Active names and traded stake: Setu Securities (0.51 percent)

Stock movement and volumes: Lost 19.54 percent to Rs 303.85. Trading volumes at 3 crore shares versus 1-month average of 16 lakh shares

Technicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: The company on April 20 reviewed pipeline tariff for its high pressure Gujarat Gas grid network

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