Corporate governance issues: No respite for Vakrangee; stock down by half

While PC Jeweller, the company in which Vakrangee had purchased 0.5% has recovered, the latter continues to be under selling pressure

The Vakrangee stock has shed 53 per cent over the past 10 days, including 10 per cent in trade today on corporate governance issues. The company was reportedly being investigated by the Securities and Exchange Board of India (Sebi) for price and volume manipulation in the first half of 2017. The company has, however, indicated that the news is baseless and factually incorrect and they had not received any official communications from the regulator or the exchanges.

PC Jeweller also has slipped in a similar way before recovering and is now down 26 per cent over the past week on