Securities and Exchange Board of India (SEBI) has awarded a three-month suspension to Calcutta Stock Exchange member Ashok Kumar Kayan for a period of three months for manipulating prices of three scrips in identical range, in 1998. The broker did not appear for personal hearing before Sebi chairman, but admitted the charges apologising for his acts, the market regulator said in a statement. Kayan has been suspended for a period of three months with effect from Friday.

Sebi decision on BMC helps ISE

The Securities and Exchange Board of India's (Sebi) decision to allow brokers of Regional Stock Exchanges to utilise their Base Minimum Capital (BMC) for trading on the Inter-Connected Stock Exchange of India (ISE) has provided a big boost to trading on the exchange. The ISE had approached the capital market regulator with this issue. Brokers were not able to trade on regional exchanges due to illiquidity of scrips and various other reasons.

Will Sebinorms help small investor?

Sebi came out with a cautionary note to small investors during the week. The small investor surely needs protection. Now, Sebi is investigating promoters who have disappeared and barring them from other company boards. But all that is not going to bring back the money that the poor and simpleton investor was cheated out of in the name of economic liberalisation.

Skindia GDR index up 1.23%

The Skindia GDR Index representing GDRs of 19 actively traded companies moved up by 1.23 per cent to 920.77 points from 909.62 points on August 26. The Skindia GDR Index P/E ratio also rose by 1.33 per cent to 31.23 from 30.82 while the Skindia GDR index premium declined by 10.43 per cent.