Trading in these three stocks would be suspended from December 12, 2022, do you hold any of them?
If this doesn’t surprise you, this definitely will - there are companies that don’t report their quarterly earnings for several consecutive quarters. Isn’t it shocking?
Quarterly earnings reports are one of the best ways to track stock performance. Publicly-traded companies issue these reports several times in a financial year and provide valuable information based on the company’s performance. Traders, analysts, investors and other market participants use these earnings reports to assess the value of a company’s stock and the success of executives in running the company.
However, are you aware that there are many companies, which neglect this and refrain from issuing their quarterly earnings? If this doesn’t surprise you, this definitely will - there are companies that don’t report their quarterly earnings for several consecutive quarters. Isn’t it shocking?
Let us share with you the list of companies that have been identified with respect to Standard Operating Procedure for suspension and revocation of trading of shares of listed entities for non-compliance with certain regulations of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 (“Listing Regulations”), it is hereby informed that the following companies have not complied with requirements of Regulation 33 (i.e. Submission of Financial Results) of the listing regulations for two consecutive quarters’ i.e. March 31, 2022 and June 30, 2022. Hence, the trading in securities of below named companies shall be suspended w.e.f. December 12, 2022.
So, what happens to such companies?
If the above-mentioned companies do not comply as per the provisions of SOP circular on or before December 07, 2022, then: Trading in securities of the above companies would be suspended w.e.f. December 12, 2022, and the suspension will continue till such time the companies comply with SOP circular.
After 15 days of suspension, trading in the securities of a non-compliant company would be allowed on Trade for Trade basis in (Z category) on the first trading day of every week for six months.