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Shares of 63 Moons Technologies Ltd jumped as much as 13.8 per cent to Rs 83.2, highest since May 25. The stock posted its biggest intraday percentage gain since April 2.
In a significant ruling, the Chennai Bench of NCLT has dismissed the Centre’s plea to supersede the board of 63 moons technologies (formerly Financial Technologies India Ltd). However, it allowed the government to nominate a maximum of three directors.
“Order has also given a clean chit to the current board of 63 Moons of any alleged misconduct or wrongdoing against the interest of its shareholders,” CEO S Rajendran said
More than 873,400 shares changed hands versus 30-day moving average of 233,229. The stock has fallen 38 per cent this year up to Friday's close.
(With inputs from Reuters)
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