J P Associates plunges on Sebi notice

BSE 22 May 12 | 01:52 PM

62.85		-0.45 (-0.71%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 532532

Face Value: N.A.

NSE 22 May 12 | 01:50 PM

62.80		-0.55 (-0.87%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: JPASSOCIAT

Performance
1 Week	:	Rs	62.80	(0.08%)
1 Month	:	Rs	77.90	(-19.32%)
1 Year	:	Rs	81.85	(-23.21%)

J P Associates plunges on Sebi notice

SI Reporter / New Delhi 07 Jan 12 | 12:26 PM

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J P Associates is trading lower by 2% at Rs 52 on reports that market regulator SEBI (Stock Exchange Bureau of India). has slapped Rs70 lakh fine on senior JP Associates’ executives and family.

SEBI in its investigation report issued notices the executive chairman Manoj Gaur and others for violating guidelines relating to insider trading by purchasing shares during the period when trading was closed.

"The founders Jaiprakash Associates said they would challenge an order by the Securities and Exchange Board of India (Sebi), India's capital market regulator, penalising them on insider trading charges," reports suggest.

The stock opened at Rs 52 and touched the intra-day low price of Rs 51. As many as 7,11,000 shares have changed hands compared to its two-week average of 19,44,000 shares.