Business Standard

Apex Frozen’s shares soar 21% on debut Shares of Kwality plummet20% Sebi disposes of case against Tata Motors


Shares of Apex Frozen Foods on Monday climbed 21 per cent during their trading debut. The stock ended at ~212.1 compared to the initial public offering (IPO) price of ~175. Apex Frozen Foods is into production and exports of seafood, particular­ly shrimps. The company’s ~150-crore IPO had garnered six times more demand than the shares on offer. Apex Frozen’s shares touched a high of ~212.1 and a low of ~202 on the NSE, with close to ~31 crore worth of shares traded. BS REPORTER< Shares of dairy products maker Kwality dropped 20 per cent to end at ~114.25 on Monday. The counter saw intense selling with shares getting locked into the lower circuit. According to market buzz, the stock plunged following a police complaint by a broker against some entities for manipulati­ng the share price of Kwality. BS REPORTER< Markets regulator Sebi has disposed of a case against Tata Motors related to alleged nonredress­al of investor complaints. After noting that Tata Motors had redressed the grievance of the complainan­ts, Sebi said in an order that the charge of non-redressal of grievance "does not stand establishe­d" against the firm. It was alleged that the company had merely filed action taken report in the Sebi Complaints Redressal System with regard to two pending investor complaints and failed to take appropriat­e steps for their redressal. PTI<

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