Settlement rates for Tulip shares

The Bombay Stock Exchange on Friday said all the executed orders in Tulip IT Services on Thursday below Rs. 96 would be deemed to have been transacted at a price of Rs. 171.15, the weighted average price of trades executed at or above Rs. 96. Orders executed at a price higher than Rs. 96 would be deemed to have been transacted at such prices at which the trades were executed. "The cut-off price of Rs. 96 has been arrived at by applying the circuit filter limit of 20% on the issue price of Rs. 120 on the lower side. Meanwhile SEBI has asked the BSE to look at whether the share prices of Tulip IT Services were manipulated or not and find ways to safeguard the interest of investors, who lost over Rs. 120000000 when the shares were wrongly traded at 25 paise as against the market price of Rs. 185.- PTI