Sebi has levied penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE.
In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Kamala Agarwal, Kamla Devi Bajoria, Kamla Jain, Kamaljeet Kour, Kamal Ramprasad Gupta, Kamal Kumar, Kamlesh Ahuja, Kailash Narottamdas Anam, Sanjay Kumar Daga HUF Pragma Suppliers Pvt Ltd and Aromatic Tie Up Pvt Ltd.
The orders came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange.
Sebi conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
The entities to be fined were among those who indulged in reversal trades, Sebi said in the 11 separate orders on Thursday.
Reversal trades are non-genuine as they are executed in the normal course of trading, leading to a false or misleading appearance
Posts in category Business Standard
Sebi levies Rs 55 lakh fine on 11 entities for non-genuine trades (22-09-2023)
Rupee appreciates by 38 paise to 82.75 against US dollar in early trade (22-09-2023)
The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment.
Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India’s debt market and global investors.
At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close.
On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar.
India’s inclusion in a major global bond index will open doors to increased foreign investment in the nation’s debt market, traders said.
“The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80,” CR .
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