Shell companies provided relief by SAT trading at a low level
DSIJ Intelligence / 14 Aug 2017
The six companies that procured a relief order from the Securities Appellate Tribunal (SAT) after having been restricted for trading by the Securities Exchange Board of India (SEBI) have been trading in the negative zone today morning.
The six companies that procured a relief order from the Securities Appellate Tribunal (SAT) after having been restricted for trading by the Securities Exchange Board of India (SEBI) have been trading in the negative zone today morning. These companies were among the 331 entities categorized as shell companies by the SEBI.
The companies granted relief by the SAT include Parsvnath Developers, Kavit Industries, Pincon Spirit, Signet Industries, SQS India BFSI and Kkalpana Industries.
Parsvnath Developers breached the lower circuit at Rs 57.35, down by 19.96%; Kavit Industries touched the lower circuit at Rs 36.80, down by 4.91%; Pincon Spirit was locked in the lower circuit at Rs 57.35, down by 19.96%; Signet Industries breached the lower circuit at Rs 8.94, down by 19.96%; SQS India BFSI was trading at Rs 453.8, down by 9.52%; and Kkalpana Industries breached the lower circuit at Rs 30.35. Subsequently, Kkalpana Industries recovered a bit and was trading at Rs 30.45, down by 19.66%.
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