Pyramid Saimira scrip hits upper circuit, soars 20%

Pyramid Saimira Theatre Ltd today surged nearly 20 per cent, touching its upper limit on the Bombay Stock Exchange (BSE) even as the market regulator Sebi barred the company's promoter P S Saminathan from share trading.

Sebi had yesterday barred Saminathan from share trading and being a director in any listed company for 10 years after the company was found inflating its profits during 2007-08.

Despite suffering the jolt, shares of Pyramid sky-rocketed by 19.94 per cent to touch an upper circuit of Rs 7.46 on the BSE.

Sebi has also restrained Uma Saminathan, co-promoter and wife of Saminathan, from any dealing in the securities market and from being a director of any listed company for a period of five years.