Block deal rule rejig on Sebi agenda

The Securities and Exchange Board of India (Sebi) is said to be in talks with the bourses to revise norms for block deals, following a representation from major institutional brokers and foreign investors. An upward revision of the price band and share limits for a deal is on agenda.
 
The market cop has also sought the opinion of the capital markets division of the finance ministry.
 
According to government sources, foreign and large institutional investors have told Sebi that during block trading, share prices were driven upwards as information on a deal reached the market. Hence, large investors