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NSE and BSE will be suspending trading in CG Power and Coffee Day Enterprises from February 3. Both the companies have not filed their quarterly financial results for two consecutive quarters — June and September 2019, which is a violation of rules under exchange compliance.
The share price of both companies are locked in lower circuit for days now, making it difficult for small investors to exit the counter. If companies comply with the provisions of listing norms on or before January 29, trading in its securities will not be suspended. Also, the entire promoter shareholding of the companies has been frozen from January 10, till further notice, the exchanges said.
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