ICICI Securities shares rally over 5 pc after co settles case with Sebi

Shares of ICICI Securities jumped over 5 per cent on Friday after the company settled charges of alleged violation of stock broker norms, without admission or denial of any wrongdoing with markets regulator Sebi.

On the BSE, the stock opened at Rs 332.25 and gained 6.13 per cent to hit a high of Rs 350.25. Later, it closed 5.17 per cent up at Rs 347.05.

The stock has been on rising streak since November 21 and has gained over 15 pc in the last six sessions.

The shares were up by similar margins on the NSE in early trade. The stock settled 4.61 per cent up at Rs 345.10.

In terms of volume, spurt in trading of ICICI Securities' shares was more than 4.79 times, as per the BSE data.

The market capitalisation of the firm was at Rs 11,179.92 crore.

In a case of fraudulent trading by bogus entities through several brokerage houses, ICICI Securities has settled charges of alleged violation of stock broker norms without admission or denial of any wrongdoing with markets regulator Sebi.

ICICI Securities has settled the case by paying over Rs 28 lakh towards settlement charges, the Securities and Exchange Board of India (Sebi) said in a settlement order.