Brightcom Group Share Price: Brightcom Group shares slipped nearly seven per cent on BSE on Thursday (February 29, 2024) after Sebi continued its ban on the company's promoter, Suresh Kumar Reddy.

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The stock of Brightcom Group was trading lower by 5.01 per cent, or Rs 0.88 per cent, at Rs 16.68 at 10:47 am on Thursday.

The stock closed trading at Rs 17.56 on Wednesday and opened at Rs 17.44 on Thursday. The stock fell sharply to the day's low of Rs 16.36, a 6.83 per cent fall.

What is SEBI's confirmatory order?

In a confirmatory order released by Sebi on Wednesday, the regulator said that its restriction imposed on Reddy would continue in a case regarding irregularities in preferential allotments of shares made by the company. 

In its order, Sebi said, "Besides, he would continue to be restrained from holding the position of a director or a Key Managerial Personnel in any listed company or its subsidiaries."

(With inputs from agencies)