Moneycontrol
Aug 11, 2017 09:45 AM IST | Source: Moneycontrol.com

J Kumar Infra, Prakash Ind hit 20% lower circuit post SAT order against SEBI ban

The companies share has started its normal trading today post the Securities Appellate Tribunal (SAT) on Thursday stayed restrictions imposed by the SEBI on trading of shares on the exchanges.

J Kumar Infra, Prakash Ind hit 20% lower circuit post SAT order against SEBI ban

Moneycontrol News

Shares of J Kumar Infraprojects and Prakash Industries have locked at 20 percent lower circuit in the opening trade on Friday post the shares of both the companies start trading on the indices after they were declared as shell companies.

The trading in these two companies had been halted, along with 329 others, after they were identified as suspected shell companies by Securities and Exchange Board of India (SEBI). Read More

The shares had moved to so-called Stage VI of graded surveillance measures - where trading is allowed only once a month - for being suspected shell companies.

J Kumar Infraprojects and Prakash Industries had moved the SAT against the SEBI directions.

The companies share has started its normal trading today post the Securities Appellate Tribunal (SAT) on Thursday stayed restrictions imposed by the SEBI on trading of shares on the exchanges.

Out of the 331 companies on the list, more than 160 are actively traded shares on the exchanges.

J Kumar Infraprojects has registered 12.5 percent fall in its Q1 (April-June) net profit at Rs 25.8 crore against Rs 29.5 crore, in the same quarter last fiscal.

At 09:26 hrs Prakash Industries was quoting at Rs 111.20, down 20 percent with pending sell orders of 268,388 shares.

J Kumar Infraprojects was quoting at Rs 226.95, down 19.99 percent with pending sell orders of 17,032 shares.

Posted by Rakesh Patil
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