India's PTC India's rally continues as fraud allegations cleared

Ptc India Financial Services

18/11/2022 06:14

** PTC India Financial Services  PTCN.NS  continues rally
into second day after audit clears the NBFC of fraud allegations
    ** Stock last up 4.7%, taking 2-day gains to just under 10%
    ** PTC said late Weds. that a forensic audit was completed
and did not show any findings of fraud or diversion of funds
    ** PTC also reported March-qtr results, which was deferred
due to the audit
    ** Three PTC directors quite in Jan, citing several
instances of lapses in corporate governance and PTC in April
appointed CNK & Associates LLP to conduct an audit
    ** The 2-day rally helps stock cut its YTD losses to ~21.5%
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))