Sebi cracks down on ‘pump & dump’ YouTube schemes
The regulator in two separate orders barred 55 entities including actors Arshad Warsi and his wife Maria Goretti from the securities market for alleged price manipulation through YouTube and subsequently offloading the inflated shares of Sadhna Broadcast and Sharpline Broadcast.
Adani sells $1.87 billion stake in Group companies
Sources said the conglomerate may also use the funds to prepay a $750-million mezzanine debt facility, which was also taken to help finance the purchase of the twin cement assets, billed as the biggest takeover in India’s building materials industry to date.
SC names panel to review investor protection norms
The expert committee is headed by former Supreme Court judge Abhay Manohar Sapre. Its members are former State Bank of India chairman OP Bhatt, former Bombay High Court judge JP Devadhar, noted banker and National Bank for Financing Infrastructure and Development (NaBFID) chairperson KV Kamath, Infosys cofounder Nandan Nilekani and securities lawyer Somasekhar Sundaresan.
Adani stocks rally for a 3rd day, add Rs 30,000 cr to group m-cap
Flagship Adani Enterprises gained 2.75% to close at ₹1,607.25. Ambuja Cement and Adani Total Gas gained over 4% each. Adani Ports & Special Economic Zone moved up 3.5% and ACC rose 1.4%.
D-Street rally sputters on renewed rate hike worries
Benchmark indices wiped out previous day gains, with the Sensex closing below 59,000 and the Nifty breaking below its 200-day moving average (DMA) of 17,397, a key technical indicator, led by declines in banks, technology, automobile and metals stocks.