Lawstreet Journal

BSE to Delist Two Firms- Sancia Global Infraprojects Limited and Delma Infrastructure Limited on July 7

Lawstreet Journal 4 Jul 2020 5:13pm

Image courtesy: Lawstreet Journal Business BSE to Delist Two Firms- Sancia Global Infraprojects Limited and Delma Infrastructure Limited on July 7

Leading stock exchange BSE has said two companies will be delisting from 7th July 2020, as trading in their shares has been suspended for more than six months. The exchange has been de-listing firms for the last few years in which trading has long been suspended.

"Two companies that have remained suspended for more than 6 months would be delisted from the platform of the exchange, with effect from July 7, 2020, pursuant to an order of the delisting committee of the exchange," BSE said in a circular. The two companies facing delisting are --Sancia Global Infraprojects Limited and Delma Infrastructure Limited.

The stock exchange for the last few years has been delisting companies in which trading remains discontinued for a long period of time.

Furthermore, for 10 years, these delisted companies, their full-time directors, promoters, and group firms will be deprived of access to the securities market. Promoters of these companies will be required to purchase the public shareholders' shares according to the fair value determined by the exchange 's appointed independent valuer.

"Further, these companies would be moved to the dissemination board of the exchange for 5 years as directed by Sebi," the BSE noted.

Moreover, HDFC Life Insurance share price gained in trade on the report the firm would replace Vedanta on Nifty from 31st July 2020, due to the proposed voluntary delisting of the mining major. The share price of HDFC Life Insurance climbed 5.19% to Rs 576 against the previous close of Rs 547.95 on BSE. 

HDFC Life Insurance shares are trading higher than 5 day, 20 day,… Continue Reading...

Tagged: BSE   Bombay Stock Exchange  
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