Clarification on misleading Law Text article about old NSEL case judgment
63MOONS · price
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.8 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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63 Moons clarifies that a Law Text article claiming a fresh Bombay High Court judgment against NSEL in the MPID Act scam case is misleading. The judgment referenced was actually delivered on 7 Feb 2025, relating to appeals by promoters and directors of certain NSEL brokers charge-sheeted by EOW, not a fresh ruling. The company notes significant intraday stock price volatility coinciding with the article's circulation and is examining potential legal and regulatory action against those responsible.
Company flags possible market manipulation via misleading publication; no new legal development against the firm itself, but stock may stay volatile.