Vakrangee climbs 5% after EOW gives clean chit on price, volume manipulation complaint

Vakrangee climbs 5% after EOW gives clean chit on price, volume manipulation complaint

Vakrangee shares were locked in 5 percent upper circuit at Rs 25.35 on Thursday after getting clean chit from Economic Offences Wing (EOW) with respect to price and volume manipulation.

There were pending buy orders of 421,781 shares, with no sellers available, at 9:40 hours IST.

A complaint was filed with the office of Economic Offences Wing (EOW) against the company and its Promoter/ Managing Director & CEO Dinesh Nandwana.

Based on the aforesaid complaint, EOW had sought explanation from the company, relating to price/ volume manipulation and accordingly had conducted an enquiry.

The company said it had provided all the satisfactory replies along with supporting documents to the queries that were raised by the office of EOW.

Upon completion of their investigation, the office of EOW said it has not found any substance in the complaint and hence closing the enquiry, thereby giving clean chit to the company.