Trading of scrips of Arun halts due to unnecessary price movement

The trading of Dharan-based Arun Finance limited (ARUN) has been suspended in Nepal Stock Exchange Limited (NEPSE). Sambhu Panta, spokesperson of NEPSE said, “The trading has been suspended due to unnecessary price movement. The current trading price of ARUN does not seem to be supported byfundamentals of the company. So we have suspended the trading to gather more information.” Nepse will soon publish a notice stating the reason for the halt and then the trading will be resumed. The total paid up capital of Arun Finance stands at Rs 15 crore. Nepal Rastra Bank had declared Dharan based Arun Finance Limited crisis-ridden, stating that the finance company is in the state of insolvency due to deteriorated financial situation.