CIRP insolvency application withdrawn against company, NCLT final order awaited

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-4.6%Reaction day

₹4.52

prior close

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announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-4.5% vs market

Trading & Distributors peers, median of 139sector+0.0%-4.6% vs sector

On the reaction day the stock moved 4.5 pts less than Nifty Microcap 250 and 4.6 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-4.6-0.1-4.5+0.0-4.6

Next day

-3.1+0.7-3.8+0.0-3.1

-3.5+2.3-5.9+0.0-3.5

-3.5+2.2-5.7+0.1-3.6

-7.7+2.6-10.3+0.0-7.7

-7.7+3.9-11.7+0.1-7.9

-1.8+2.7-4.5-0.1-1.7

15d

-6.0-1.2-4.8-3.0-3.0

-7.5-0.2-7.3-3.0-4.5

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UpDownMarket · Nifty Microcap 250Sector · Trading & Distributors peers, median of 139Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Jainco Projects informed stock exchanges that a Corporate Insolvency Resolution Process (CIRP) application filed against the company under Section 7 of the Insolvency and Bankruptcy Code before NCLT Kolkata has been withdrawn by the applicant. The final order from NCLT is still awaited. This removes an insolvency threat that had been hanging over the company.

Likely market impact

Positive development as insolvency threat recedes, though investors should await the final NCLT order for confirmation.