Nonsense at NSE

NSE is India’s leading stock exchange with 85% market share in the Equity cash segment and 99% market share in the Equity Derivatives segment.

As such, one expects the Exchange to be managed with a high degree of professional competence.

But sometimes,the shenanigans at the Exchange takes one breath away.

Take for instance, the strange case of K A Wires Ltd (NSE Symbol: KAWIRES)

This company is listed on NSE and has filed its quarterly shareholding pattern for Q2 FY2016-17

As on 30 September,2016, the promoter shareholding of this company is 100% (ONE HUNDRED PERCENT) !!

How can such a company even get listed?

The Stock that didn’t Split

Hat Tip: Safir

It is very rare to see a Promoter vote against his own Company’s Board resolutions.

This astonishing sighting happened in the case of Jyoti Resins & Adhesives Ltd.

On 29 Aug,2016, the Board recommended a stock split of the shares from a FV of Rs.10 per share to FV of Rs.1 per share

However in the AGM held on 30 Sept,2016, the Promoters voted against the resolution thereby blocking it.

Hmm…maybe such resolutions should have waited till the Shraadh period got over !