SEBI penalises eight individuals for breach of insider trading norm in Titan share trades
时间:2024-06-26 06:51:04 阅读(143)
Capital markets regulator Sebi on Wednesday imposed fines totalling Rs 8 lakh on eight individuals for violation of insider trading norms in the shares of Titan Company Ltd.
The transactions were carried out between April 2018 and March 2019 when they were designated employees of Titan Company.
The order came after Sebi received a letter from Titan Company Ltd (TCL), wherein the company intimated the regulator about alleged violations of Prohibition of Insider Trading (PIT) and company’s code of conduct by some of its designated persons/employees.
Thereafter, the market regulator conducted an investigation in the scrip of TCL and found non-compliances of PIT rules by the individuals during the April 2018-March 2019 period.
During their employment with TCL, they had transacted in the securities of the company but failed to make disclosures to the firm as required under the PIT norms, as per the Securities and Exchange Board of India (Sebi).
The disclosure was mandatory as the transactions exceeded the market value of Rs 10 lakh.
In a separate order, the market regulator slapped fines totalling Rs 20 lakh on four entities for indulging in fraudulent practices in the preferential allotment of Esaar India Ltd shares.
The regulator imposed a fine of Rs 5 lakh each on Giriraj Kishore Agarwal, Tanu Agarwal, Saloni Agarwal and Tilak Finance Ltd.
上一篇:tioned itself as a premium retailer of brands.
The move had also prompted the country’s largest organised retailer Reliance Retail to step into the value retail segment with Yousta, which was announced on Thursday. Like Intune, Yousta began its operations in Hyderabad, with plans to expand across the country. Intune has three stores – two in Hyderabad and one in Dombivli, near Mumbai, with plans to add another three more outlets in the coming months.
Nair had admitted on a recent earnings call that the apparel segment in general was witnessing moderation and that the value retail foray by Shoppers Stop could help the company tap into the growing trend for affordable fashion and lifestyle products, aiding sales growth.
That was an important statement for Shoppers Stop, which reported a nearly 37% year-on-year drop in net profit to Rs 14.5 crore in the June quarter of FY24, even as revenue grew only 4.8% versus the previous year to nearly Rs 994 crore.
On a yearly basis, the company had last reported a net profit of nearly Rs 114 crore in FY23 after three consecutive years of loss between FY20 and FY22 due to the Covid-19 pandemic. FY23 topline also jumped nearly 60% year-on-year to Rs 4,022 crore, the highest in six years, its results showed.
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