A quick buck could be made on stock markets off privileged information at little risk of getting caught. Sebi’s order also sought to disgorge them of a sum of about ₹3.1 crore, the illegal profits they allegedly made. According to Sebi, it was an alert sounded last July by its internal scanners that prompted a closer look at suspicious Infy stock trades around the declaration of its financial results. In 2019, Sebi’s chairperson Ajay Tyagi said that the board would spend ₹500 crore on a technology upgrade to enhance its analytical capabilities. If a memo from the top boss doesn’t deter them from sneaky market manoeuvres, Sebi’s software antlers should.

Source: Mint June 02, 2021 16:12 UTC