BSE, NSE may suspend trading of Coffee Day, CG Power from Feb 3

Trading in securities of the companies would be suspended w.e.f. February 03, 2020, and the suspension will continue till such time the companies comply including the payment of fine, as per NSE circular.

Jan 13, 2020 03:01 IST India Infoline News Service

Bombay Stock Exchange Building
BSE and NSE will suspend trading in shares of Coffee Day Enterprises and CG Power and Industrial Solutions from February 3, 2020, for not complying with listing norms pertaining to submission of quarterly financial results.

“Pursuant to the provisions of SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 3, 2018, with respect to Standard Operating Procedure (SOP) for suspension and revocation of trading of shares of listed entities for non-compliance of certain regulations of SEBI (LODR) Regulation, 2015, it is hereby informed that following companies have not complied with requirements of Regulation 33 (i.e. submission of financial result) as per SEBI (LODR) Regulation, 2015, for consecutive quarters i.e. June 30, 2019, and September 30, 2019, and/or not paid the fine amount levied for said non-compliance. Hence, the trading in securities of below named companies will be suspended w.e.f. February 3, 2020.

In case the companies fail to comply and/or pay fine as per the provisions of above mentioned SEBI circular on or before January 29, 2020, then:
Trading in securities of the companies would be suspended w.e.f. February 03, 2020, and the suspension will continue till such time the companies complies including the payment of a fine.

15 days after the suspension has been effected, trading in securities of non-compliant companies would be allowed on Trade for Trade basis in (Series “BZ”) on the first trading day of every week for six months, the NSE circular stated.

Both stocks were trading lower by 5% on the BSE.

Stock view:
CG Power & Industrial Solutions Ltd is currently trading at Rs10.80, down by Rs0.56 or 4.93% from its previous closing of Rs11.36 on the BSE. The scrip opened at Rs11.20 and has touched a high and low of Rs11.40 and Rs10.80 respectively.

Coffee Day Enterprises Ltd is currently trading at Rs39.65, down by Rs2.05 or 4.92% from its previous closing of Rs41.70 on the BSE. The scrip opened at Rs41 and has touched a high and low of Rs41 and Rs39.65 respectively.

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