 "Varun Shipping is locked at 5% upper circuit")
Shares of Varun Shipping are locked in the upper circuit of 5% after the company in its action report informed the Securities and Exchange Board of India (SEBI) that all the pending 90 investor complaints have been resolved. Following the report, SEBI had revoked the directions issued against Varun Shipping Company and its directors.
In the month of April, the SEBI had issued directions against the firm in the wake of many investor grievances remaining unresolved. CLICK FOR FULL REPORT
Apart from the company, the directions against Yudhisthir Dilip Khatau, A K Bhattacharya, Khurshed M Thananwalla, Armin Fali Pardiwala and Praveen Singh have been revoked.
The stock opened at Rs 8.73 and a total of 25,393 shares have changed hands on the BSE.