Nitin Spinners Limited — Important, 22-02-2025: Updates

Mr. Dhirendra Kumar Sachan, Vice President (Weaving) at Nitin Spinners Limited, executed a contra-trade involving 100 shares bought at Rs. 312.62 and 800 shares sold at Rs. 469.76 within a short period. The company responded to this violation by seeking a written explanation and issuing a warning letter, emphasizing adherence to statutory requirements. They levied a penalty of Rs. 15,641, corresponding to the profit earned from the trade. The actions were taken within the context of the company's Code of Conduct, noting that Mr. Sachan was not in possession of unpublished price-sensitive information and the trade occurred following the opening of the trading window. This marks a first-time violation, and the company is closely monitoring compliance moving forward.