Sebi fines Divi's Laboratories CFO L Kishore Babu for insider trading

It said Divi's had made an announcement on July 10, 2017, during market hours that the US FDA would lift import alert 99-32 on the company's unit-II at Visakhapatnam

Sebi has imposed over Rs 96-lakh penalty on the chief financial officer of Divi's Laboratories,  L Kishore Babu, and his close associates, including his son, for indulging in insider trading in 2017. 

The market regulator said Divi's had made an announcement on July 10, 2017, during market hours that the US FDA would lift import alert 99-32 on the company's unit-II at Visakhapatnam, and Babu knew about the development before it was made public.