{"id":"f-e550251d2f-4814c329-6c48-59a6-b92e-9476a8d1c0ac","title":"RRP Semiconductor's 55,000% rally draws exchange attention, trading restricted","description":"Since October 11, the stock being placed under additional surveillance, trades only once a week, and in a 1% price band. In the six Monday's since, the stock has declined 1% in all six of them.","timestamp":0,"category":"business","headline":"RRP Semiconductor's 55,000% rally draws exchange attention, trading restricted","modifiedHeadline":"RRP Stock Surge Triggers Trading Halt","subCategories":["scid_0f705da1"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"53","fcSummary":"Trading in RRP Semiconductor shares, which saw a social media-fueled rally, has been restricted by exchanges due to surveillance measures. The stock is under additional surveillance, trading only once a week within a 1% price band, after gaining in 287 of 289 sessions.","summary":"RRP Semiconductor's massive 55,000% rally triggers exchange scrutiny. Trading restricted to weekly sessions with a 1% price band.","ctaUrl":"https://trends.glance.com/newz/Economy/IN/en/cnbc-tv18/f-e550251d2f-4814c329-6c48-59a6-b92e-9476a8d1c0ac","sourceUrl":"https://www.cnbctv18.com/market/rrp-semiconductor-55000-percent-rally-trading-restricted-surveillance-measures-float-volumes-19795141.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/8wjGRLtJas40.webp","content":"Trading in shares of RRP Semiconductor Ltd., a stock that became a social media frenzy due to its gravity-defying rally has been restricted by the exchanges as per the latest update.\n\n
\n
\n The stock's home page on the Bombay Stock Exchange reads \"Trading Restricted - on account of Surveillance Measure\". The stock has been placed under stage 1 of the Long-term Additional Surveillance Framework and Stage 0 of the GSM framework.\n
\n
\n The BSE page also reads \"Caution For Investors - RRP Semiconductor.\"\n
\n
$\"\"$ \n
\n
\n Starting September 10 last year to November 7 this year, RRP Semiconductor gained in 287 out of the 289 trading sessions, with the stock being unchanged in the other two sessions. The stock was placed in a 2% circuit limit since October 2024 and has remained in one since.\n\n
\n
\n Since October 11, the stock being placed under additional surveillance, trades only once a week, and in a 1% price band. In the six Monday's since, the stock has declined 1% in all six of them.\n
\n
\n During that 289 day streak, the highest volumes traded on RRP Semiconductor was 2,147 shares, that were traded on September 18. The average trading volume during this period has been single digits to low double-digits.\n
\n
\n The most recent annual report showcases only two full-time employees in the company.\n\n
\n
\n In a filing in April this year, the company said that the company is taking appropriate steps with regards to the order against the withdrawal of the approval granted for preferential shares. \"We are confident that our collective efforts will be impactful, long -lasting, in interest of nation and security Market. The management is committed to protect interest of all stakeholders and growth of the Company,\" the statement had said.\n
\n
\n RRP was founded by Rajendra Chodankar, who struck a deal to take over GD Trading and Agencies Ltd. by repaying a ₹8 crore loan owed to its founders. In April 2024, as per a Bloomberg report, GD Trading's board agreed to issue shares to Chodankar and others at ₹12 apiece, 40% below the market price. Just two months ago, Chodankar had incorporated RRP Electronics Pvt. Ltd., to building an outsourced semiconductor assembly and testing facility in Maharashtra, the report added.\n\n
\n
\n As per the September shareholding, over 90% of the shares are owned by Chodankar and some of his close associates, with 528 retail investors, or those with an authorized share capital of up to ₹2 lakh, owning a 1.12% stake.","readDurationInMinutes":"4","author":{"name":"CNBC TV18","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/ecc3d19b-fc52-4a39-881c-5b0936ae723b.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"383191425","type":"COMSCORE"}],"pointerSummary":["RRP Semiconductor trading restricted due to surveillance; stock saw extreme rally. (87)","Stock gained in 287/289 sessions; low volume, 2 full-time employees noted. (85)","Chodankar owns 90%+ shares; preferential shares withdrawal addressed. (88)"],"tags":["RRPSemiconductor","StockMarket","TradingRestrictions","BombayStockExchange","BSE","SurveillanceMeasure","LongTermAdditionalSurveillanceFramework","GSMFramework","InvestorCaution","RajendraChodankar","GDTrading","ShareManipulation","RRPElectronics","Maharashtra","SemiconductorIndustry","RetailInvestors","StockRally","FinancialRegulation"],"consent":true,"redirectionEnabled":false}

RRP Semiconductor's 55,000% rally draws exchange attention, trading restricted

SUMMARY