Dsq Investors Find Nse Handy

DSQ Software is creating waves on the National Stock Exchange (NSE) as the exchange is the only window for the investors to enter or exit the stock.

On Friday, the scrip closed at Rs 38, up 13 per cent, with volumes of just over 14,000 shares.

However, today the stock again moved up sharply to close at Rs 41.90 after touching a high of Rs 45.65 intra-day, with 13.45 lakh shares changing hands.

The NSE has allowed trading of the scrip as the company has fulfilled the listing obligations of the bourse. However, with the Securities and Exchange Board of India (Sebi) inquiry underway, the Bombay Stock Exchange (BSE) has not yet allowed trading in the shares of DSQ Software.

DSQ was delisted from both Bombay and National stock exchanges. The company had allegedly violated the listing norms by not informing any exchanges about the acquisition of Fortuna Technologies and the subsequent hike in its equity stake in Fortuna. It is also alleged that DSQ did not seek shareholders' permission for the process. Sebi, too, has barred the firm from accessing the capital markets for one year.

The acquisition of Fortuna Technologies by DSQ has been cancelled as it was found to be a fraud deal.

The city-based Investors' Grievances Forum (IGF) has already filed a criminal case against the company for cheating the investors and committing forgery by printing fake shares. The company has also been charged with manipulating books of accounts, indulging in circular trading and price rigging. Currently, the matter is being looked into by the Economic Offences Wing (EOW) of the Mumbai Police as well.