Varun Shipping was locked on the 5% upper circuit at Rs.8.73 the moment it opened up for trading in the morning. Its 52-week high stands at Rs.12.91.

The stock is up, reacting to the news that SEBI has revoked directions issued against the directors of the firm as all pending investor grievances stand resolved.

In April, a lot of complaints had piled up against the company and SEBI had issued directions against them given the number of unresolved complaints. But in the recent “action taken” report, the company stated that all 90 complaints have been resolved and currently there are no complaints against the company as at 21^st Macy 2015.