PTC India Financial Jumps by Record on Satisfactory Audit Report

PTC India Financial Services rallies as much as 20%, the highest daily increase on record, after the firm said in a filing that its company-appointed auditor had issued a “satisfactory” report.

• Parent company PTC India had earlier initiated a probe on governance issues at its financial services unit following the resignation of three independent directors
• According to the company’s statement, the Agency for Specialized Monitoring Report said the lender is maintaining “required level of transparency” and the cash flows for the review period were “normal” with no “diversion of funds”
  • The report observed that there was no “suspicious activity” ...