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ESDS Software shares hit 5% lower circuit, crash nearly 30% in 6 sessions. What's behind the selloff?

ESDS Software shares hit the 5% lower circuit on Monday, extending their losing streak to six sessions and taking the decline to nearly 30%. The selloff follows the expiry of a one-month shareholder lock-in, while weaker sequential Q1 revenue and profit have also raised concerns over the stock’s stretched valuation.