The US Stock Markets are remaining volatile as volumes continue to build up. The NASDAQ slipped to the red soon and is volatile. Consumer Cyclical sector leads by being the most positive sector while the Healthcare is on the other end.
Top gainers on the NASDAQ in the early hours of trade include Power Integrations, Inc., PC Mall, Inc., Children’s Place Retail Stores, Inc. (The), Exide Technologies and First Federal of Northern Michigan Bancorp, Inc. amongst. Most decliners include Orion Energy Systems, Inc., Corporate Executive Board Company (The), Select Comfort Corporation, IAC/InterActiveCorp and Edge Petroleum Corporation amongst others.
February 7th, 2008
As per the provision of Securities Contract (Regulation) Rules, 1956 and the Rules, Bye-laws and Regulations of the Exchange, a Company listed on Bombay Stock Exchange Limited is required to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting companies is liable for suspension.
Accordingly, despite giving various reminders and subsequent show-cause notices, 22 companies, as mentioned in the list enclosed as Annexure 1, have failed to comply with various provisions of the Listing Agreement upto quarter ended June, 2007.
Consequently, trading in securities of these 22 companies listed on Bombay Stock Exchange Limited will be suspended w.e.f. Monday, March 10, 2008, on account of non-compliance with the provisions of the Listing Agreement, for the following period(s) -
(i) in case, the company complies (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement on or before Thursday, February 28, 2008, trading in securities of the company will be suspended for 5 days i.e. upto Friday, March 14, 2008.
(ii) in case a company complies (to the satisfaction of the Exchange), with all the provisions of the Listing Agreement on or before Wednesday, March 26, 2008, the trading in securities of a company will be suspended for 30 days i.e. upto Wednesday, April 09, 2008.
(iii) however, in case the company fails to comply with the provisions of the Listing Agreement, to the satisfaction of the Exchange on or before Wednesday, March 26, 2008, the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip.
Suspension of trading in securities of a company will be revoked only if the company complies with all the provisions of the Listing Agreement upto the latest quarter for which the compliances is required.
Kalyan S. Bose
Head – Corporate Affairs
February 07, 2008
Encl: as above
ANNEXURE 1
Companies that have not complied with the respective clauses
Sr.No. Scripcode Name of the company
1 502700 Arunoday Mills Ltd
2 500025 Assambrook Ltd
3 509499 Centron Industrial Alliance Ltd
4 501270 Chankya Investments Ltd
5 517391 Gamma Infoway Exalt Ltd
6 501111 Gold Rock Investments Ltd
7 531387 Hasti Finance Ltd
8 532047 K C Bokadia Films Ltd
9 506991 Noble Explochem Ltd
10 514028 Rajkamal Synthetics Ltd
11 532055 Rashel Agrotech Ltd
12 514280 Sanrhea Technical Textiles Ltd
13 522279 Satellite Engineering Ltd
14 511144 Saya Housing Finance Company Ltd
15 514209 Shamken Cotsyn Ltd
16 514152 Shamken Multifab Ltd
17 500386 Shamken Spinners Ltd
18 513548 Sharda Ispat Ltd
19 515003 Spartek Ceramics India Ltd
20 503297 Super Syncotex India Ltd
21 531418 Systel Infotech Ltd
22 517429 VJIL Consulting Ltd
February 7th, 2008
The Exchange has successfully completed its 1998th Normal Settlement (Rolling T+2 following SEBI directive) since inception i.e., Settlement Number N – 2008026 on February 07, 2008. The settlement statistics is as follows:
Particulars Values
N – 2008026
Total traded quantity (lakhs) 5302.43
Total traded value (Rs. In Crores) 12643.37
Total value of the settlement (Securities) (Rs. In Crores) 3046.61
Total value of the settlement (Funds) (Rs. In Crores) 977.19
Shortages for the settlement 0.34%
% of Delivery ( No. of shares deliverable / No. of shares traded ) 20.56%
Retail Debt Market have completed its 1272nd settlements details of which is as follows:
Settlement No. Traded Value Settlement Value
Securities Funds
D- 2008026 NIL NIL NIL
February 7th, 2008
The media had reports that Arvind Mills Ltd may hive off its retail (Mega Mart) and brands segment (Arvind Brands) into separate companies and may list them subsequently.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Arvind Mills Ltd has vide its letter inter-alia stated, “The company constantly evaluates various proposals and options to maximize the business potential and enhance shareholder value. However, currently there is no such proposal as speculated in the media before the Board of Directors at this point of time.”
February 7th, 2008
The equity shares of the following company shall be listed and admitted to dealings on the Exchange w.e.f. February 11, 2008. Trading shall be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors.
Sr. No. Symbol Name of the Company ISIN Code
1 RPOWER Reliance Power Limited INE614G01033
February 7th, 2008