Gitanjali Gems, Amtek Auto hit lower circuit

Shares of Gitanjali Gems, Amtek Auto, Easun Reyrolle and Panoramic Universal today fell by nearly 5 per cent each to hit lower circuit limits after both the leading exchanges BSE and NSE decided to suspend trading in these counters.

BSE and NSE will suspend trading in shares of as many as nine firms, including banking fraud accused Mehul Choksi's Gitanjali Gems, from September 10 for not complying with listing norms pertaining to submission of financial results.

While both the exchanges will together suspend Gitanjali Gems, Amtek Auto, Easun Reyrolle and Panoramic Universal, the BSE will suspend Thambbi Modern Spinning Mills, Indo Pacific Projects, Haryana Financial Corporation, Noble Polymers and Samruddhi Realty as well.

Trading in securities of the nine companies will be suspended from September 10, 2018, for non-compliance with Regulation 33 of LODR Regulations for two consecutive quarters -- December 2017 and March 2018, the BSE said in a notice.

Regulation 33 pertains to submission of financial results.

At close, Gitanjali Gems was quoted at Rs 2.88, down 4.95 per cent, Amtek Auto at Rs 6.52, down 4.96 per cent, Easun Reyrolle at Rs 7.59, down 4.89 per cent and Panoramic Universal at Rs 3.48, down 4.92 per cent.