Gallant Ispat, Gallant Metal surge 20% as trading in shares normalize

Gallant Ispat locked in upper circuit of 20% at Rs 220, while Gallant Metal up 20% at Rs 40.10 on the NSE

Shares of Gallant Ispat and Gallant Metal was locked in upper circuit of 20% after the trading of these stocks normalized with effect from today.

“Company no longer fall under the list of suspected "shell companies' and shares of the company will be shifted from Graded Surveillance Measures (GSM) VI category and trading in shares will be normalized w.e.f January 1, 2018,” these companies has said in a separate regulatory filing.

Revocation of actions as envisaged in SEBI's letter dated August 07, 2017 and the consequential actions taken by National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) against Gallantt Ispat, Gallant Metal, its promoters and directors, it added.  CLICK HERE FOR FULL REPORT

Gallant Ispat has locked in upper circuit of 20% at Rs 220 on the NSE. Around 65,557 shares change hands and there were pending buy orders for 21,619 shares on both the exchanges at 10:19 AM.

Gallant Metal too up 20% at Rs 40.10 on the NSE. A combined 236,075 shares changed hands and there were pending buy orders for 22,799 shares on the NSE.