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What’s in a name? A lot for stock market, if it’s ‘Oxygen’ in COVID-era!

BUY-SELL | HELP WANTED | MATRIMONIAL

It’s often said that the stock market’s main oxygen comes from sentiments. The share price has hit the roof for a company that has the word ‘Oxygen’ in its name even though its business has nothing to do with the life-saving gas — something in high demand due to the COVID-19 pandemic. The share price of Bombay Oxygen Investments Ltd hit its upper circuit limit Rs 24,574.85 apiece at the BSE on Monday, with the maximum permissible gain of 5 per cent due to the stock being under surveillance. The same is the case with some other little-known stocks with ‘gas’ or ‘oxygen’ in their new or old names and all of them are being probed for any possible foul play.It’s often said that the stock market’s main oxygen comes from sentiments. The share price has hit the roof for a company that has the word ‘Oxygen’ in its name even though its business has nothing to do with the life-saving gas — something in high demand due to the COVID-19 pandemic. The share price of Bombay Oxygen Investments Ltd hit its upper circuit limit Rs 24,574.85 apiece at the BSE on Monday, with the maximum permissible gain of 5 per cent due to the stock being under surveillance. The same is the case with some other little-known stocks with ‘gas’ or ‘oxygen’ in their new or old names and all of them are being probed for any possible foul play.

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