Source: Media Statement of Adani Group
Today, Piramal Enterprises made an important announcement to the Exchanges.
This announcement actually means that DHFL shares will now be worth zero.
However Dalal Street’s Finest decided to welcome this announcement with an Upper Circuit of DHFL shares.
While Caveat Emptor etc is fine, the mind boggles at the reckless speculation.
Maybe SEBI/Stock Exchanges should step in and delist stocks involved in NCLT resolutions.
Source: Lenny Rachitsky