Sebi has proposed to categorise FPIs in three categories – Low Risk, Moderate Risk and High Risk; aims to enhance disclosure for FPIs that have concentrated holding in a single company or corporate group.
While LIC shares had got off to a dismal start after its mega IPO last year, the stock has made a strong recovery in the past month, gaining over 10 per cent. LIC shares have gained nearly 7 per cent in the past 5 days, and analysts are bullish about the stock going forward.
Sebi's statement comes after the Supreme Court said would consider giving it 3 months to probe the matter and not 6 months as Sebi had asked for earlier.
Market regulator Securities and Exchange Board of India (SEBI) on Saturday moved the Supreme Court seeking a six-month extension to complete its investigation into allegations of stock price manipulation by the Adani Group. On March 2, the apex court directed SEBI to complete its probe and submit a status report in two months.
Adani Group companies – Adani Enterprises and Adani Ports and Special Economic Zone are still getting EPFO as their constant investor. Despite Market Rout, EPFO Continues to Invest in Two Adani Stocks.