Sebi mulls stock payment system bypassing brokers

August 8, 2022

At present, such a system exists in the ‘primary’ or IPO market. Sebi is exploring bringing the ‘fund-blocking mechanism’ to the secondary stock market. Known as ASBA or Application Supported by Blocked Amount, this method is mandatory for investing in initial public offerings (IPOs).

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Chart Check: Nearly 50% rally in 3 months! Should investors buy or book profits in this cable maker?

Short to medium-term traders can look to buy the stock for a target of Rs 5650 in the next 1-2 months, they say.

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