Shareholders in penny stocks that got delisted a few years ago have a reason to smile again. The revival of equity markets has seen the promoters such companies queue up to get their stocks re-listed on the bourses.
Promoters of as many as 25 companies have complied with the listing norms in the last two months, according to Bombay Stock Exchange (BSE) data. These 25 companies have now been re-listed on the BSE after being in the list of suspended companies for periods varying between two and fourteen years.
Among those who got delisted, non-payment of listing fees was the most common reason for suspension. A few of them even failed to submit their quarterly results, while some failed to declare their book-closure dates.
One such company - Vision Technology – got re-list today after a gap of six years, under B group category, after the BSE had revoked the suspension in trading. The stock hit an intra-day high of Rs 6.50 before settling at Rs 3.67, 185% higher from its last traded price of Rs 1.29 in November 2003.
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