 "SEBI")
Sebi’s deep dive: Unmasking deepfake stock tactics
The Securities and Exchange Board of India (Sebi) is monitoring the use of deepfakes and artificial intelligence (AI)-powered voiceovers for spreading misinformation and misleading investors. Sources said the regulator has stumbled upon the use of fake videos and voiceovers of popular personalities to promote stocks. A recent such video showcased Reliance Industries Chairman Mukesh Ambani promoting a stock tips group — the catch was that his voice was AI-generated. Experts said that with AI tools becoming popular, it could pose a challenge for investors when it comes to discerning genuine information. Stock exchanges and regulators have been issuing cautions against fraudsters, unregistered entities, and even advisories on high-algo trades. However, they will have to deploy newer tools to stay ahead of the curve.
Trading in the balance: Nifty, Bank Nifty navigate a narrow range
Both the benchmark National Stock Exchange Nifty50 and the Nifty Bank indices moved in a narrow range last week. The Nifty touched a low of 21,875 and a high of 22,297 before last closing at 22,213. Meanwhile, the Nifty Bank Index last closed at 46,812 after seeing a swing of about 1,000 points. Experts say the market is struggling to break out on either side due to a lack of big triggers. Technical analysts say traders are required to keep an eye on the 21,900 level for the Nifty. “As long as Nifty maintains levels above 21,900, one can continue buying the dips,” says Rupak De, senior technical analyst at LKP Securities. On the upside, the index faces resistance at 22,400, he added. As far as the Nifty Bank Index is concerned, the key resistance is at 47,850, while strong support is seen at 46,000.
Exicom’s IPO power surge: Breaking weak listing trends
Electric vehicle charging firm Exicom Tele-Systems’ Rs 430 crore initial public offering (IPO) is likely to break the recent weak listing trend. If a grey market premium is any indication, shares of the company are expected to double upon listing. Exicom’s shares are quoted at Rs 272 in the grey market compared to its price band of Rs 135–142 per share. Three of the past four IPOs have been listed at a discount. Juniper Hotels, too, could slip below its issue price given the lukewarm response to its IPO, said market players. Besides the Exicom IPO, Bharat Highways’ Rs 2,500 crore infrastructure investment trust offering also opens for subscription this week.
