India's Arshiya eyes worst day in 2 weeks on NCLAT stay order on unit

Arshiya

05/12/2022 07:10

** Shares of logistics and supply chain solutions provider
Arshiya Ltd.  ARSH.NS  fall as much as 4.9% to 10.70 rupees,
their sharpest intra-day pct loss since Nov. 21
    ** Co late on Friday said National Company Law Appellate
Tribunal (NCLAT) issued a stay order for corporate insolvency
resolution process against Arshiya Northern FTWZ Ltd, a wholly
owned subsidiary of co through its Dec. 2 order  urn:newsml:reuters.com:*:nFWN32S239
    ** National Company Law Tribunal through its Dec. 1 order
had directed to initiate the corporate insolvency resolution
process against Arshiya Northern FTWZ 
    ** Over 980,000 shares traded as of 12:31 p.m. IST, vs their
30-day avg of more than 876,000 shares
    ** Shares down 58.7% YTD, as of last close
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))