Pyramid Saimira scrip hits upper circuit, soars 20 per cent

Pyramid Saimira Theatre Ltd on Friday surged nearly 20 per cent, touching its upper limit on the Bombay Stock Exchange (BSE) even as the market regulator Sebi barred the company's promoter P S Saminathan from share trading.

Sebi had on Thursday barred Saminathan from share trading and being a director in any listed company for 10 years after the company was found inflating its profits during 2007-08.

Despite suffering the jolt, shares of Pyramid sky-rocketed by 19.94 per cent to touch an upper circuit of Rs 7.46 on the BSE.

Sebi has also restrained Uma Saminathan, co-promoter and wife of Saminathan, from any dealing in the securities market and from being a director of any listed company for a period of five years.