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The Securities and Exchange Board of India (Sebi) is set to intensify its drive against individuals who misuse unpublished price-sensitive information (UPSI) to make illicit gains from the stock market.
Trading based on UPSI is among the most serious offences in the stock market. Sebi has stepped up on improving its surveillance mechanism after prescient messages, related to the financial results of several blue-chip companies, including Axis Bank, HDFC Bank and Tata Motors, were being circulated on WhatsApp.
The regulator is working on a framework to tackle this menace. “It is proposed to introduce measures to address the issue of
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