Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

SEBI Asks for Trading Data as it Probes WhatsApp Messages: Source

The messages about the 12 companies with prescient information obtained by Reuters involved mostly what were characterised as being upcoming quarterly results, including specific metrics such as net profits, revenues and operating margins.

Reuters

Updated:November 21, 2017, 11:37 PM IST
facebookTwittergoogleskypewhatsapp
SEBI Asks for Trading Data as it Probes WhatsApp Messages: Source
File photo: The logo of the Securities and Exchange Board of India (SEBI) is seen on the facade of its headquarters building in Mumbai. (Image: Reuters/Shailesh Andrade)
Mumbai: India's market regulator Securities and Exchange Board of India (SEBI) has asked for trading data on companies mentioned in a Reuters story last week about prescient messages on company earnings in social media chatrooms, a person familiar with the matter told Reuters on Tuesday.

The Reuters investigation documented at least 12 cases of prescient messages about major Indian companies being posted in WhatsApp groups limited largely to traders and market insiders.

"The regulator has asked the exchange to track the trading data for the companies mentioned in the Reuters report before and after their results were made public," said an official at one of the bourses, who asked not to be identified, as he is not authorised to publicly discuss the matter.

Earlier on Tuesday, Indian newspaper Economic Times, citing an unnamed official, reported that the regulator has asked the exchanges for this data.

SEBI, the National Stock Exchange and rival bourse BSE Ltd all did not respond to requests for comment.

Ajay Tyagi, chairman of SEBI, told Reuters last week that the regulator will investigate the matter.

The messages about the 12 companies with prescient information obtained by Reuters involved mostly what were characterised as being upcoming quarterly results, including specific metrics such as net profits, revenues and operating margins.

They also included messages about upcoming bonus share issues or revenue guidance.

Seven of the companies are part of the benchmark NSE index: Dr. Reddy's, the drug maker Cipla, Axis Bank, HDFC Bank, Tata Steel, IT services firm Wipro and Bajaj Finance.

The other five were Mahindra Holidays and Resorts, Crompton Greaves Consumer Electricals Ltd, IT services providers Mindtree Ltd and Mastek Ltd, and India Glycols, a petrochemicals company.

India beefed up insider trading rules in early 2015, and it expanded what material constitutes "unpublished price-sensitive information" to include "any information" that is not "generally available" and that could have a market impact.
| Edited by: Mirza Arif Beg
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results