NSE to delist 14 companies from its platform from August 31

NSE (National Stock Exchange) is delisting as many as 14 companies from its platform from August 31, as these entities are in the process of winding up their respective businesses.

The companies to be delisted include Chemox Chemical Industries, Ganapati Exports, Hamco Mining & Smelting, Mansukh Industries, Mardia Chemicals, Mardia Steel, Moolchand Exports, Motorol, Pal Peugeot, and Ponni Sugars (Orissa). Prudential Capital Markets, SIV Industries, SMZS Chemicals, and Vibrant Investment and Properties are also on the list.

In April, an NSE public notice had named 80 companies for compulsory delisting as trading in shares of these entities had been suspended over a long period. The firms, including Pyramid Saimira Theatre, had been asked to show why their shares should not be delisted.

Under compulsory delisting, these firms would cease to be listed on the exchange and would move to the dissemination board of the exchange.

Bourses have been making efforts to delist companies suspended over long period of time, while market regulator Sebi is also planning to push for delisting of over 4,200 listed firms whose shares are not being traded.