Videocon scrip slides 5% on trading curbs

NEW DELHI: Shares of Videocon Industries dropped 5 per cent on Tuesday as the company was included in the list of 11 scrips that will be shifted to the restricted trading category from September 3 for not complying with listing rules.

The stock fell 4.82 per cent to Rs 4.74 on the BSE.

The 11 companies did not submit the shareholding pattern report for two consecutive quarters, violating Sebi's listing regulations.

"The scrips will be transferred to 'Z' group with effect from September 3, 2018," stock exchanges said.

The Z group includes those that have failed to comply with the listing requirements or not resolved investor complaints or not made required arrangements with depositories - CDSL and NSDL - for dematerialisation of their securities.

Earlier this month, the exchanges announced that they will suspend trading in shares of nine firms, including Gitanjali Gems and Amtek Auto, from September 10 for non-submission of financial results for December 2017 and March 2018 quarters.