RRP Semiconductor’s stock price surges 55,000 per cent, triggering regulatory concerns | Business News
RRP Semiconductor’s stock has recorded a sharp surge of more than 55,000 per cent over the past year, despite the company having no operating semiconductor business. The rally has placed the scrip firmly under the regulatory lens, with both the Securities and Exchange Board of India (SEBI) and the BSE closely monitoring trading activity. The latter has put a trading restriction of once-a-week trading with 1 per cent price band on the company’s shares.
RRP Semiconductor’s stock was trading at around Rs 20 in April 2024. It has since jumped to Rs 11,094, catapulting the company’s market capitalisation to about Rs 15,114 crore. To be sure, the company has not commenced any semiconductor manufacturing. It has reported negative…
