Business Daily from THE HINDU group of publications
Saturday, Jun 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jun 21, 2008 ePaper | Mobile/PDA Version | Audio |
|
|
|
|
|
|
|
|
Home Page
-
Stock Markets Markets - Stocks Industry & Economy - Economic Offences
Ravi Ranjan Prasad
Mumbai, June 20 Over 200 brokers and traders were fined up to Rs 5 lakh by the Bombay Stock Exchange for speculative trading in the scrips of KGN Industries and Sylph Technologies. KGN Industries and Sylph Technologies were re-listed on BSE in the Z Category after a gap of six to seven years and witnessed a huge price rise on listing day on account of speculative trading, as there were no price filters imposed on the day of listing for the purpose of price discovery in these scrips. The traders fined include Anand Rathi Financial Services, Angel Broking, Asit C Mehta, Geojit Financial Services, Motilal Oswal Securities, Prabhudas Liladher, Centrum Broking, Gandhi Securities & Investment, ICICI Securities, Karvy Stock Broking, and Ventura Securities . A total of 222 traders were fined with regard to KGN Industries and 118 for Sylph Technologies. On May 21 KGN Industries soared to Rs 55,000 on re-listing after seven years. When last traded, in 2001, the Z- Group scrip was trading at a mere Rs 11. As KGN climbed to the “unrealistic” price, the BSE suspended trading of the scrip in the afternoon session as a “proactive surveillance measure”. The very next day, Sylph Technologies too jumped to Rs 800 on its re-listing. The scrip was trading at 80 paise seven years ago. It trimmed its gains and closed the day at Rs 200. Sylph does a KGN, soars to Rs 800 More Stories on : Stock Markets | Stocks | Economic Offences
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
