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Infosys’ stock hit by SEBI’s action, know how much it fell

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In the insider trading case, SEBI on Tuesday took action against the famous IT company Infosys and other companies. This had an impact on the company’s stocks today. There was a fall in its prices.

Impact of SEBI’s action on Infosys

SEBI took major action against the famous IT company Infosys for being involved in insider trading activities. SEBI barred the company from entering the securities market. Its effect was seen in the shares of Infosys on Wednesday. There was a decline of 1.81 percent in this. The stock closed at Rs 1,379.75, down 0.55 per cent on the BSE. While on the NSE, it closed at Rs 1,381 with a fall of 0.45 per cent.

It is to be known that SEBI has banned eight other entities, including two employees of Infosys, from trading in the securities market i.e. securities market for indulging in insider trading activities in IT stocks. SEBI has issued an interim order in this regard saying that entities traded in Infosys shares in possession of unpublished Price Sensitive Information (UPSI) relating to financial results of Infosys for the quarter ended June 30, 2020, which is against the rule.

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SEBI also directed attachment of two companies Capital One Partners and Tesora Capital against them for taking illegal profits of Rs 3.06 crore while taking action against 8 entities. SEBI has found that Capital One and Tesora traded in the shares of the company in the futures and options trading segment shortly before the announcement of Infosys results for the quarter of June 30, 2020. Shortly after, he sold the shares and made his position such that he had nothing.

Capital One Partners and Tesora Capital made illegal earnings of Rs 2.79 crore and Rs 26.82 lakh, respectively, in this transaction. All these have been banned from trading in the stock market till further orders.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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