SEBI investigates leak of financial results on Social Media

Mumbai Nov 21: In a move to prevent leakage of Information, SEBI has launched an investigation into the share trading data of companies whose financial results were out on social media groups before they were disclosed to the stock exchanges.

Sources said that the probe has already started and the report would be soon submitted and further action would be taken by the market regulator.

Currently, under the guidelines of Sebi, the financial results of the company must be circulated only through stock exchanges such as NSE and BSE and not any other means because the stocks of the companies are price sensitive.

Recently there are reports that financial results of some companies were circulated in social media such as WhatsApp before they were officially declared to the stock exchange.

There are reports that the results of the following companies were leaked Cipla, Axis Bank, HDFC Bank, Tata Steel, Wipro, Bajaj Finance, Mahindra Holidays and Resorts, Crompton Greaves Consumer Electricals, Mindtree Ltd, Mastekand India Glycols.