Sebi bars 15 entities from capital market for insider trading in Zee

Regulator's alert system detected a suspicious trading pattern in the scrip around the announcement of financial results for Q1FY20 declared post trading hours on August 18, 2020

The Securities and Exchange Board of India (Sebi) has passed an interim order debarring 15 entities from the capital market and impounding gains of Rs 23.8 crore for indulging in insider trading in the scrip of Zee Entertainment Enterprises (ZEEL).

The regulator's surveillance alert system detected a suspicious trading pattern in the scrip of the media firm around the announcement of the financial results for Q1FY20 declared post trading hours on August 18, 2020.  

ZEEL had declared a substantial increase in profits which resulted in an increase in the price of the scrip by 13.1 per cent on August 19,