Daily Stock Market News

Nomura Singapore buys stake in BSE-listed multibagger penny stock


Multibagger stock: Global financial services group Nomura Singapore Limited ODI has bought stake in Veeram Securities Ltd. The financial firm, which has presence across 30 countries has bought 1,50,000 Veeram Securities shares. Likewise, Resonance Opportunities Fund Mauritius has made an investment of 1,03,000 shares in this BSE-listed share, which is one of the multibagger penny stock that has risen to the tune of 120% in last one year.

The company management of this multibagger penny stock informed about the investment from global financial investment institutions in its exchange communication citing, “With reference to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 We are pleased to inform you that Nomura Singapore Limited ODI which is a global financial services group with an integrated network spanning over 30 countries and regions have made an investment of 1,50,000 shares in our company. Further Resonance Opportunities Fund Mauritius have made an investment of 1,03,000 shares in our company.”

Veeram Securities Ltd has also intimated Indian bourses about its plan to convert into an NBFC citing, “This is with reference to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 We are pursuing in the object of Conversion of existing company into NBFC as decided in Board Meeting held on 25th June, 2020. Further the intimation is given to take the necessary steps for getting the eligibility for Bank license thereafter.”

Veeram Securities share price history

As mentioned above, Veeram Securities is one of the multibagger stocks in Indian stock market. In last one month, this multibagger penny stock has surged from 15.80 to 22.85 apiece levels, logging around 45 per cent rise in this period. This attracted attention of SEBI and the market regulator immediately sought clarification from the company board in regard to its stock price movement.

Replying to SEBI’s clarification on Veeram Securities share price movement, the company replied, “We wish to inform you that the Company has made all the necessary disclosures pursuant to regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and has not withheld any material information/event that in our opinion would have bearing on the price behavior of the scrip. The Company shall continue to make applicable disclosures, within the stipulated time. Therefore, the movement in the share price of the company is purely due to market conditions and absolutely market driven and the management of the company is in no way connected with any such movement in price. You are requested to take the same on record.”

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