Shares of JM Financial tanked 9 per cent in the mid-session trade on Monday after Sebi had barred JM Financial Ltd from accepting new mandates to act as a lead manager for the public issue of debt securities, for flouting regulatory norms.
The stock of JM Financial plunged 8.72 per cent to Rs
Sebi had, however, said in its interim ex-parte order that JM Financial could continue to act as a lead manager for the public issue of debt securities for 60 days in case of existing mandates
Rates on short-term instruments such as commercial papers, Certificate of deposit and treasury bills rose sharply in last few weeks after the liquidity in the banking system slipped into a deficit post remaining in huge surplus.In last one .