Companies & Sectors
SEBI seeks details of Infosys board meeting of 1st June

The Infosys stock jumped 3.32% a day before the board meeting, with 2.312 million shares changing hands. Moneylife had written about possible insider trading in the stock

The Securities and Exchange Board of India (SEBI) has sought clarifications from Infosys regarding its 1st June board meeting in which the company reappointed NR Narayana Murthy as its executive chairman.

 

Infosys on Thursday said it has provided the information sought by SEBI. “SEBI has sought certain clarifications from us relating to the board meeting held on 1st June and we have provided the same. We will fully cooperate with SEBI and provide all necessary information in this matter,” an Infosys spokesperson said. Specific details could not be immediately ascertained.

 

The Infosys stock jumped 3.32% a day before the board meeting, with 2.312 million shares changing hands. Moneylife had written about probable insider trading in the company’s stock, you can read it here.

 

Infosys had on 1st June recalled its founder Narayana Murthy and returned control of the company that has disappointed investors with poor earnings in the last nine quarters and losing ground to smaller rivals.

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NSE to suspend trading in KS Oils, Abhishek Corp from 21st June

NSE has attributed the suspension to “non-compliance with provisions of listing agreement which inter-alia includes non submission of financial results for the period ended 31 December 2012”

The National Stock Exchange (NSE) on Thursday said it will suspend trading in securities of KS Oils and Abhishek Corporation for their failure to comply with provisions of listing agreement.

 

Trading in these securities would be suspended with effect from 21st June, this year.

 

“Trading in the securities (KS Oils and Abhishek Corporation) will be suspended from trading with effect from 21 June 2013 (i.e. Closing hours of trading on 20 June 2013),” the exchange said in a circular.

 

NSE has attributed the suspension to “non-compliance with provisions of listing agreement which inter-alia includes non submission of financial results for the period ended 31 December 2012.”

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COMMENTS

Ajeya S

3 years ago

what will happen to shareholders of these companies, I mean retail investors who are still holding on to these shares?

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