PTC India and its financial arm fall on SEBI notice

Ptc India Financial Services

10/05/2023 06:20

** Shares of power trading firm PTC India Ltd  PTCI.NS  fall
as much as 1.6%; its financial services arm PTC India Financial
Services Ltd's  PTCN.NS  shares plunge as much as 5.7% 
    ** Reuters reported on Wednesday that market regulator SEBI
issued legal notices against the govt-owned co and its unit,
citing people familiar with the matter
    ** SEBI is demanding explanations of alleged corporate
governance lapses; PTCI and PTCN have 21 days to reply to the
show cause notice
    ** This is PTCN's steepest pct drop since Oct. 21; PTCI on
track to fall for five consecutive sessions, if trends hold
    ** PTCI last down 1.1%, while PTCN slumped 4.2%



 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))