BCL Industries, a leading edible oil and distillery company, has informed the exchanges about the market regulator Securities and Exchange Board of India’s (SEBI) compliance certificate regulation.
The securities involved are listed on the stock exchange, the company said in an exchange filing. It added that after due verification the certificates have been mutilated and canceled and the name of the depository has been changed to the registered owner in the records of the company.
“We confirm that the securities received from Depository Participants for dematerialization were confirmed (accepted/rejected) during the quarter ended December 31, 2022,” the filing said. Stock Exchange where previously issued securities are listed.
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The company also confirmed that “the security certificates received for dematerialisation have been confirmed/rejected and the security certificates received have been mutilated and canceled after due verification by the Depository Participant and the name of the depository registered in the register of members.” has been substituted as the owner within the prescribed time limit”.
Meanwhile, the stock rallied over 20 per cent to hit the upper circuit on NSE and BSE. The stock opened at Rs 335 on the NSE, up 5 per cent from its previous close of Rs 309.40. Heavy buying was seen in the counter as it jumped 20 per cent to close at Rs 371.25 in the upper circuit. After this the business came to a standstill.
Shares of BCL Industries have given tremendous returns of 200% in the last 5 years.
Incorporated in the year 1976, BCL Industries is a part of the Mittal Group. The company is into edible oil and distillery business.