NSE and BSE have announced that the trading may be suspended in the stock BCG from June 14th, 2024 after the company failed to disclose the financial results for two consecutive quarters that ended in September and December 2023.
This violates SEBI’s Regulation 33 (Listing Obligations and Disclosure Requirements) norms.
As per the exchange:
The suspension will continue till the company complies with the SEBI’s Master Circular dated July 11, 2023
After 15 days of the suspension, trading in the securities of the company would be allowed on trade on the first trading day of every week (Z category) for six months.
Since the stock is having back to back lower circuit because of the mentioned issue I want to understand what can a retail investor do. Ideally promoters are supposed to buy back these shares if they want to delist right ? (Assume that it’ll delist)
Hi @Raghav_Singhania, suspension from trading is different from delisting. In the case of BGC, the exchange may suspend trading as the company is in violation of regulations.
The shares have been suspended from trading today, so unfortunately you will not be able to sell. Trading will resume again in 15 days and will be traded once per week on the first trading day of the week, you will be able to sell the shares then.
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