Shares of Gitanjali Gems, Bharati Defence, Educomp Solutions, Sterling Biotech fell over 4 percent intraday Wednesday as NSE has levied penalties on the companies for not filling financial results for quarter-ended December 31.
National Stock Exchange (NSE) has levied penalties on as many as 24 companies including scam hit Gitanjali Gems for failure to file financial results for quarter-ended December 31.
NSE will initiate further regulatory action on the companies which could include suspension if they do not comply with the requirement to file quarterly financial results.
ABG Shipyard, Amtek Auto, DS Kulkarni Developers, Bharati Defence and Infrastructure, Educomp Solutions, Shree Renuka Sugars, Moser Baer and Sterling Biotech are also among the 24 companies on the list.
According to the norms, exchanges can levy a penalty of Rs 5,000 per day on the entity for failure to file financial results, till the date of compliance.
At 10:09 hrs Gitanjali Gems was quoting at Rs 13.60, down 4.90 percent, Sterling Biotech was quoting at Rs 2.50, down 4.94 percent and Bharati Defence was quoting at Rs 5.56, down 4.14 percent on the BSE.
With inputs from PTI
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