Dish TV seeks SEBI probe on ‘unusual’ stock trading pattern

Our Bureau Mumbai | Updated on October 25, 2018 Published on October 25, 2018

  Subhash Chandra-backed Dish TV has written to SEBI seeking a probe on the unusual trading pattern and the manner of price-hammering of the company’s shares which happened immediately after the company announced its second quarter results.

“As you would observe, the downward movement of the stock price of Dish TV during the past few trading days is much in excess of the volatility/ downward trend seen in the market/ broader indices in general and channel distribution stocks in particular and more so in today’s trading session after announcement of the financial results. We, as the company, sense some foul play – from persons/ group with vested interests,” Dish TV said in a communication to SEBI.

The aggregate volume in the equity segment was in excess of 2.96 crore shares on the NSE and 0.25 crore shares on the BSE with deliverable quantity of only around 23.14 per cent on the NSE and 10.35 per cent on the BSE.

“We urge and request your good offices to investigate the movement and operations in the Dish TV stock in the recent past more specially on trading today and initiate appropriate penal actions against concerned broking house(s) and/or their clients to ensure that the conspirators are brought to book immediately, rather be treated as an emergency,” the letter said.

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Published on October 25, 2018
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