India's Omaxe rises after tribunal stalls regulator's market ban on co

Omaxe

08/10/2024 06:05

** Shares of Omaxe Ltd  OMAX.NS  rise as much as 5%, the
exchange-allowed upper limit, to 114.71 rupees
    ** Real estate co says Securities Appellate Tribunal (SAT)
grants stay on final order passed by India markets regulator
against co, chairman and others for alleged irregularities in
financial statements 
    ** Adds, SEBI had restricted co, others from accessing
securities market; SAT stay order enables OMAX to raise capital,
continue business ops as usual
    ** Stock on track to snap six weeks of losses  
    ** OMAX gains 53.2% YTD

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))