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Educomp denies promoters pledged shares
This article was posted on Feb 7, 2009 and is filed under Stock News
MUMBAI: Shares of Educomp Solutions reversed losses to rise more than 2 per cent after the company said its promoters have not pledged any shares. The company’s shares have been battered since January on reports alleging accounting fraud at the education software and services firm, which have been denied by the firm.
The company has also come under the scanner of the Ministry of Corporate Affairs for possible violation of the Companies Act.
At 2:45 pm, the company’s shares rose to a high of Rs 1438.40, before easing gains and was currently trading at Rs 1397.50, up 0.25 per cent.
Source : Economic Times
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