Educomp gains 7% after filing complaint with EOW
Educomp Solutions was the top gainer among the A group of stocks on BSE Thursday. At 10.30 am, it was up 5.22 per cent at Rs 1,534.90. Nearly four lakh shares changed hands on BSE in the first few minutes of the trading session.
By ET Bureau |
MUMBAI: Educomp Solutions was the top gainer among the A group of stocks on BSE Thursday. At 10.30 am, it was up 5.22 per cent at Rs 1,534.90. Nearly four lakh shares changed hands on BSE in the first few minutes of the trading session.
The stock that has been under heavy selling pressure in the recent past has filed a complaint with the Economic Offences Wing of the Delhi police against alleged reports that the company's accounts have been fudged. The company is of the view that such reports have been circulated to manipulate the stock price.
ET reported on Thursday that the company has alleged that a few unidentified persons circulated e-mails and reports to the investor community and the media accusing it of accounting malpractices.
On Wednesday, Educomp closed 22.06 per cent lower on the BSE at Rs 1,534.90. On Tuesday, when rumours had first started floating, the stock dropped 7 per cent.
A press statement by the company said there seems to be an attempt to draw a parallel between Educomp and the recent developments at Satyam which have bred suspicion about corporate accounting standards in general amongst the investor community.
The stock that has been under heavy selling pressure in the recent past has filed a complaint with the Economic Offences Wing of the Delhi police against alleged reports that the company's accounts have been fudged. The company is of the view that such reports have been circulated to manipulate the stock price.
ET reported on Thursday that the company has alleged that a few unidentified persons circulated e-mails and reports to the investor community and the media accusing it of accounting malpractices.
On Wednesday, Educomp closed 22.06 per cent lower on the BSE at Rs 1,534.90. On Tuesday, when rumours had first started floating, the stock dropped 7 per cent.
A press statement by the company said there seems to be an attempt to draw a parallel between Educomp and the recent developments at Satyam which have bred suspicion about corporate accounting standards in general amongst the investor community.
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