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63 Moons shares fall 5 pc after court rejects petition

Press Trust of India  |  New Delhi 

of 63 Moons Technologies today plunged 5 per cent to hit the lower circuit limit after the dismissed its writ on the NSEL matter.

The stock plunged 5 per cent and got stuck in its lower circuit limit of Rs 131.10 on today.

On the as well, the stock fell to its lower circuit limit of Rs 131.20, down 5 per cent from the previous closing price.

"The Honourable has dismissed our writ However, it has granted 12-week stay on the operation of the order," a company statement said.

It further said that "we will be moving the Supreme during this 12-week period. We have full faith in the judiciary and continue to believe that ultimately the truth and justice shall prevail."

On February 12, the Corporate Affairs ministry had directed the of scam-hit NSEL with parent firm (FTIL), in a first-ever order to merge the two private companies.

In the wake of Rs 5,600-crore payment crisis at NSEL, the ministry had sought merger of the bourse with FTIL as well as replacement of existing FTIL management.

FTIL last year was renamed as 63 Moons Technologies.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 13:15 IST