Shares of Coffee Day Enterprises and CG Power Industrial Solutions were locked at the lower circuit of 5 percent on Tuesday after the stock exchanges, NSE and BSE, decided to bar trading in these companies’ shares from February 3 for not declaring quarterly results.

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NSE

Coffee Day Enterprises’ shares tanked 4.92 percent for the second day in a row at Rs 37.70 apiece while the scrip of CG Power plunged 4.99 percent to Rs 10.99 per share.

The stock of Coffee Day Enterprises has lost 86.47 percent of its value while the fraud-hit CG Power has tanked over 77 percent since January 2019.

These companies have not submitted the financial results for April-June 2019 and July-September 2019 quarters and not paid the fine levied for non-compliance, as required under the listing norms prescribed by market regulator Securities and Exchange Board of India (Sebi).

The stock exchanges said trading in securities of those companies would be suspended with effect from February 3, on account of non-compliance with Regulation 33 of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, for two consecutive quarters -- June 2019 and September 2019.

However, if companies comply with the provisions of listing norms before January 29, trading in shares will not be suspended.