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SEBI may settle issue for ₹40 crore, largest through consent mechanism

SEBI may settle issue for ₹40 crore, largest through consent mechanism
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NCC, Karur Vysya among top Jhunjhunwala stocks to surge post budget

(MENAFN - IANS) p>Mumbai, Feb 16 (IANS) As the domestic equity market has accentuated its bull run post the Union Budget, stocks with investments from the big bull of the Indian stock market, Rakesh Jhunjhunwala, have too have made it bigger in the past couple of weeks. Stocks like NCC and Karur Vysya Bank have gained well over 20 per cent since the Union Budget FY22 was presented on February 1. Jhunjhunwala, often called India s own Warren Buffett, individually holds 10.94 per cent stake in the construction engineering major NCC Ltd. His wife Rekha Rakesh Jhunjhunwala holds 1.90 per cent stake in the company.

Information Technology shares slide

Information Technology stocks were trading with losses, with the S&P BSE IT Sector index falling 77.94 points or 0.3% at 25895.84 at 13:48 IST. Among the components of the S&P BSE IT Sector index, 63 Moons Technologies Ltd (down 2.55%), Ramco Systems Ltd (down 1.79%),KPIT Technologies Ltd (down 1.44%),Tata Consultancy Services Ltd (down 1.3%),Aptech Ltd (down 1.29%), were the top losers. Among the other losers were Sonata Software Ltd (down 1.11%), eClerx Services Ltd (down 1.1%), Tanla Platforms Ltd (down 1.08%), Quick Heal Technologies Ltd (down 1.05%), and Hinduja Global Solutions Ltd (down 0.99%). On the other hand, Majesco Ltd (up 4.98%), TVS Electronics Ltd (up 4.91%), and NIIT Ltd (up 4.28%) moved up.

Information Technology shares gain

Read more about Information Technology shares gain on Business Standard. Information Technology stocks were trading in the positive zone, with the S&P BSE IT Sector index rising 195.04 points or 0.75% at 26170.19 at 09:48 IST.

rakesh jhunjhunwala: Aptech case: Rakesh Jhunjhunwala files consent plea in insider trading case

Mumbai: Billionaire stock market investor Rakesh Jhunjhunwala has filed a consent application with the Securities and Exchange Board of India (Sebi) to settle an alleged insider trading case in the shares of education company Aptech Ltd dating to 2016, said two people familiar with the development. Apart from Jhunjhunwala, Aptech board members Utpal Sheth, Ramesh S Damani and Madhu Jayakumar are also learned to have filed consent applications with Sebi. Sheth is the CEO of Jhunjhunwala’s asset management firm Rare Enterprises. Consent applications are out-of-court settlements over securities law violations. They are negotiated between the regulator and the entities concerned, without admission of guilt and without denial of liabilities, and involves the payment of a fee. The consent mechanism is a discretionary exercise on the part of the regulator.

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