Starting from next month, NSE has said that 19 companies including Deccan Chronicle and Koutons Retail India Ltd will not be trading on the exchange and will be delisted completely from the board. This move of delisting 19 companies from the exchange is followed by the delisting of 70 companies in the months of August and March.
The NSE has further added in its press release that since Chapter V of the SEBI Regulation (Delisting of Equity Shares) deals with the compulsory delisting of the non-active companies in the index, these 19 companies would be barred from trading in the market with effect from May 12 of this year.
This move of delisting these 19 non active companies from the NSE market has been taken out of the 4200 companies’ shares that were inactive in the market from a long period of time.
Here is the list of the 19 companies’ shares that were being delisted from the NSE market, for being non-active in the market without any trading activity from a long period of time:
- Coral Hub
- Evinix Accessories (Evinix Industries)
- Nuchem Ltd
- Spanco Ltd
- Parekh Platinum
- Pasupati Fabrics
- Pearl Engineering Polymers
- Polar Industries
- Vikash Metal and Power
- Taksheel Solutions
Apart from the above listed 10 companies’ shares, the following 7 are being delisted from the NSE market, as they have been liquidated:
- Koutons Retail
- Ankur Drugs and Pharma
- Ashco Niulab Industries
- Crew BOS Products
- Dhanus Technologies
- Teledata Technology Solutions and Teledata Marine Solutions
- IOL Netcom
Earlier, the stock exchange NSE has delisted 14 companies’ shares in the month of August last year; another 14 companies’ shares in November month of last year, another 3 companies’ shares in the month of February and also another 39 companies’ shares in the previous month of March this year. The NSE exchange has said that these companies’ shares were delisted from the exchange as they were in the process of winding up from their respective businesses.
While in the month of April in 2016, NSE has mentioned in a public notice that there were a total of 80 companies that were listed for delisting from the exchange for trading in shares of these companies’ as their operations have suspended for a long period of time.