Sheela Foam in limelight

Sheela Foam is in the limelight today morning, opening over 2% higher at Rs.967.85 and rising to an intraday high at Rs.1006.95, a rise of 6.5%. Its 52-week high is at Rs.1363.55.

The market is happy with the new development - the District Consumer Disputes Redressal Commission, (“DCDRC”), East Delhi, announced an order on March 11, 2024, in favor of the company in the matter of an insurance claim.

A brief Order of DCDRC was uploaded on its website on April 3, 2024. As per the order, the company has been awarded compensation amounting to Rs. 21.39 crore,  along with an interest rate of 10% from the date of rejection, i.e., July 27, 2020.

Additionally, the company has been granted Rs. 7,50,000 for mental anguish and losses, and Rs. 2,50,000 for legal expenses.