Continuing with process of dealing with long-suspended listed companies, top stock exchange NSE will delist 39 firms from its platform, from March 24.
This is in addition to over 30 companies that were delisted by NSE previously.
In a circular today, the National Stock Exchange said it has "decided to delist (withdraw the admission to dealings in) equity shares of the following (39) companies with effect from March 24, 2017 as per Chapter V of Sebi (Delisting of Equity Shares) Regulations, 2009".
Chapter V deals with compulsory delisting. The market regulator Sebi has been pushing for delisting of over 4,200 listed firms whose shares are not being traded.
Of the 39 companies named for delisting, three firms -- Sanghi Polyesters, Blue Bird (India) and BPL Engineering -- are being delisted as they have winded up their businesses.
In April, an NSE public notice had named 80 companies for compulsory delisting as trading in shares of these entities had been suspended over a long period of time.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
