Nothing abnormal about rise in share price, says Gujarat NRE Coke
Published: Jul 27, 2017
By TIOLCORPLAWS News Service
NEW DELHI, JULY 27, 2017: THE share price of Gujarat NRE Coke was on 'fire' yesterday and the same grabbed the eyeballs of the NSE honchos who in turn asked for explanation. And the company has today explained that the buoyancy was an outcome of the invisible market forces at play. The company further reiterated that the rise in its share price in the recent past has always been market-driven and it has consistently complied with all the regulations of the market regulator.
Netizens may recall that Corporate Insolvency Resolutions Process (CIRP) has been initiated against the company under the provisions of the Insolvency and Bankruptcy Code, 2016.