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SEBI cracks whip on market manipulators
SEBI cracks whip on market manipulators

The Hindu

time5 days ago

  • Business
  • The Hindu

SEBI cracks whip on market manipulators

Securities and Exchange Board of India (SEBI) conducted search and seizure operations in connection with pump and dump schemes in June 2025, according to a statement on June 27. 'It is hereby clarified that SEBI has conducted search and seizure operations at multiple locations in the month of June 2025 in connection with pump and dump in certain scrips and has seized incriminating evidence. Investigation in the matter is under progress,' the markets regulator said in a statement. Over the past month, SEBI had pulled up two cases on front running and market manipulation. One of them was Sanjiv Bhasin, a research analyst at IIFL Securities who had manipulated stocks which he recommended on television channels and had profited off them. Major stocks like Interglobe Aviation (Indigo Airlines) were manipulated using unpublished price sensitive information. The other being a pump and dump scheme in which prices of Sadhana Broadcast Ltd. and a few other stocks were pumped up by promoters and others with the help of social media and sold to more than 100 investors, significant of them being actor Arshad Warsi. SEBI had served interim orders against both of them asking them to disgorge the amount they had benefitted from this and banned them from securities market as per regulations. Pump and dump scam refers to a scheme when people take a position in stocks which are mostly SME or illiquid stocks, create a hype by recommending them to investors. Once the price of the stocks are high, they would sell them and bag the profit, leaving the investors will losses. It is violation according to Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations of SEBI.

Swiggy share price recovers 32% from May lows, trades near listing price. What should investors do?
Swiggy share price recovers 32% from May lows, trades near listing price. What should investors do?

Mint

time24-06-2025

  • Business
  • Mint

Swiggy share price recovers 32% from May lows, trades near listing price. What should investors do?

Swiggy share price in focus today: Swiggy, the leading food delivery and quick commerce platform, rose another 0.6% in Tuesday's trade (June 24), hitting a four-month high of ₹ 399.40 during intraday deals, edging closer to its listing price of ₹ 420. Despite concerns over rising competition in the quick commerce (QC) segment, following the entry of players like Rapido and Amazon—as well as a slowdown in the overall food delivery business, Swiggy's shares have recovered sharply, gaining 32% from May low of ₹ 297. This rebound comes as analysts turn bullish on the company's growth prospects, following signs of market share recovery in the food delivery segment over the past few quarters. After losing relative share to Zomato for three years until FY24, Swiggy's improved execution has helped it begin regaining lost ground in FY25. Its 10-minute food delivery service, Bolt, has supported overall growth and now contributes 12% of order volumes in just three quarters since launch—helping Swiggy gain 2–2.5 percentage points more market share than Eternal over the past two quarters. Swiggy is also witnessing exponential growth in its QC business, driven by hypergrowth in the industry. This is attributed to rising customer penetration and the expansion of QC beyond impulsive buying—now covering planned grocery purchases and newer categories like electronics and fashion. In the March quarter, Swiggy added 316 dark stores and reported Gross Order Value (GOV) growth of 101% YoY. Despite this growth, Swiggy's Instamart trails behind Blinkit and Zepto, holding a market share of 20%. However, analysts expect a marginal increase in share going forward, supported by improved utilization of dark stores and operating leverage. Analysts have also downplayed concerns over rising competition in the QC space. IIFL Securities noted that Swiggy has a strong supply chain and is well-versed with unit economics and execution dynamics. Swiggy's mature and profitable food delivery segment continues to act as a cash cow, likely cushioning the ongoing cash burn from its QC operations. With the total addressable market (TAM) in QC large enough to accommodate 3–4 players, the brokerage believes that Swiggy is well-positioned to emerge as one of the eventual winners, just as it has in food delivery. IIFL Securities, in its latest note, has initiated coverage on Swiggy with a 'Buy' rating and a target price of ₹ 536 per share, forecasting that Swiggy will deliver a 28% revenue CAGR over FY25–28ii and become EBITDA/PAT positive by FY27ii/FY28ii. IIFL expects Swiggy's Gross Order Value (GOV) in the quick commerce (QC) segment to more than triple over the next three years (FY25–28ii), as the industry continues on its hypergrowth trajectory. It expects losses to begin narrowing from 2QFY26ii onwards, aided by improving dark store utilization and operating leverage. IIFL also projects that the QC business will operate with adjusted EBITDA margins of 5% of GOV or 20% of revenues. In terms of the food delivery (FD) segment, IIFL expects Swiggy to deliver 17% GOV growth and 18% adjusted revenue growth over FY25–28ii, with market share remaining broadly stable. Meanwhile, global brokerage firm Morgan Stanley believes the company can deliver GOV growth at a 15.8% CAGR during FY25–28E, along with improving margins. It also highlighted Swiggy's strategic investments in quick commerce, which it expects will help regain market share and drive GOV growth at a 63% CAGR over FY25–28. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban
From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban

Economic Times

time18-06-2025

  • Business
  • Economic Times

From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban

Bhasin allegedly would buy stocks in advance, then plug them on national television and Telegram groups, leading to a spike in prices. Synopsis Sanjiv Bhasin, once a prominent stock market voice, turned to astrology on social media just months before SEBI barred him in a stock manipulation case. The regulator has accused Bhasin of front-running trades and misleading investors, ordering disgorgement of Rs 11.37 crore in alleged gains. In a bizarre turn of events, Sanjiv Bhasin, once a high-profile face of IIFL Securities and a household name among stock tip enthusiasts, had started dishing out astrology-based life advice on social media — just months before the Securities and Exchange Board of India (SEBI) barred him in a high-stakes pump-and-dump case. ADVERTISEMENT SEBI's ex-parte interim order, issued Tuesday, accuses Bhasin and 11 others of manipulating stock prices by front-running — buying shares ahead of his televised recommendations and selling them at a profit once the retail herd piled in. The regulator has ordered the disgorgement of Rs 11.37 crore in alleged ill-got gains. But before the crackdown came the cosmic twist. After SEBI conducted search and seizure operations at multiple locations linked to Bhasin in the National Capital Region on June 13–14, 2024, he quietly exited IIFL. Then came the reinvention: Bhasin resurfaced on social media not as a market veteran, but as a self-styled astrologer.'Mars to enter Leo tomorrow after almost 9 months, could be the big change you were looking forward to,' reads one of his more recent posts on X, where he commands a follower base of over 322,000. His X account is now labelled with titles like 'Market Guru, Mundane Astrology, Fate & Freewill, Sense & Sensibility.' Bhasin offers consultations on relationships, careers, and investments through the lens of planetary alignments. ADVERTISEMENT He even ventured into geopolitical clairvoyance, predicting civil unrest and splits in Pakistan by end-May based on its national horoscope. The forecast, obviously, didn't come Read | Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation ADVERTISEMENT Back in the real world, SEBI's investigation paints a damning picture. The regulator uncovered WhatsApp chats and audio files that allegedly reveal Bhasin's modus operandi: he would buy stocks in advance, then plug them on national television and Telegram groups, leading to a spike in prices. Once retail investors jumped in, Bhasin would quickly exit, booking profits in a classic "buy today, sell tomorrow" strategy.'These trades prima facie show that Sanjiv Bhasin was not genuine about his recommendations,' SEBI said in the order. 'Investors would have invested their hard-earned money believing the advice to be research-backed, only to be deceived.' ADVERTISEMENT In perhaps its strongest rebuke in recent times, the regulator said, 'SEBI cannot remain a mute spectator when fraudulent and manipulative activities take place in the securities market by personalities who are actually revered… and have a huge following on social media platforms.'For now, the man who once moved stocks with his TV picks is watching Mars, not midcaps. But with SEBI's eye firmly trained on influencer-led manipulation, it's clear that no amount of astrological deflection will soften the consequences. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? 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From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban
From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban

Time of India

time18-06-2025

  • Business
  • Time of India

From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban

In a bizarre turn of events, Sanjiv Bhasin, once a high-profile face of IIFL Securities and a household name among stock tip enthusiasts, had started dishing out astrology-based life advice on social media — just months before the Securities and Exchange Board of India (SEBI) barred him in a high-stakes pump-and-dump case. SEBI's ex-parte interim order, issued Tuesday, accuses Bhasin and 11 others of manipulating stock prices by front-running — buying shares ahead of his televised recommendations and selling them at a profit once the retail herd piled in. The regulator has ordered the disgorgement of Rs 11.37 crore in alleged ill-got gains. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New Photo Today's NYC Undo But before the crackdown came the cosmic twist. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. After SEBI conducted search and seizure operations at multiple locations linked to Bhasin in the National Capital Region on June 13–14, 2024, he quietly exited IIFL. Then came the reinvention: Bhasin resurfaced on social media not as a market veteran, but as a self-styled astrologer. 'Mars to enter Leo tomorrow after almost 9 months, could be the big change you were looking forward to,' reads one of his more recent posts on X, where he commands a follower base of over 322,000. His X account is now labelled with titles like 'Market Guru, Mundane Astrology, Fate & Freewill, Sense & Sensibility.' Bhasin offers consultations on relationships, careers, and investments through the lens of planetary alignments. Live Events — sanjiv_bhasin (@sanjiv_bhasin) He even ventured into geopolitical clairvoyance, predicting civil unrest and splits in Pakistan by end-May based on its national horoscope. The forecast, obviously, didn't come true. Also Read | Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation Back in the real world, SEBI's investigation paints a damning picture. The regulator uncovered WhatsApp chats and audio files that allegedly reveal Bhasin's modus operandi: he would buy stocks in advance, then plug them on national television and Telegram groups, leading to a spike in prices. Once retail investors jumped in, Bhasin would quickly exit, booking profits in a classic "buy today, sell tomorrow" strategy. 'These trades prima facie show that Sanjiv Bhasin was not genuine about his recommendations,' SEBI said in the order. 'Investors would have invested their hard-earned money believing the advice to be research-backed, only to be deceived.' In perhaps its strongest rebuke in recent times, the regulator said, 'SEBI cannot remain a mute spectator when fraudulent and manipulative activities take place in the securities market by personalities who are actually revered… and have a huge following on social media platforms.' For now, the man who once moved stocks with his TV picks is watching Mars, not midcaps. But with SEBI's eye firmly trained on influencer-led manipulation, it's clear that no amount of astrological deflection will soften the consequences.

Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation
Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation

Economic Times

time18-06-2025

  • Business
  • Economic Times

Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation

SEBI has barred Sanjiv Bhasin, ex-director at IIFL Securities, and 11 others for alleged stock manipulation. Bhasin reportedly bought securities before recommending them on media channels, profiting from subsequent price increases. He has been directed to disgorge ill-gotten gains of ₹11.37 crore following a Sebi investigation that uncovered evidence of fraudulent trading. Tired of too many ads? Remove Ads Mumbai: The Securities and Exchange Board of India ( Sebi ) on Tuesday barred Sanjiv Bhasin , a former director at IIFL Securities , and 11 others for their alleged involvement in stock manipulation . Sebi in an ex-parte interim order alleged that Bhasin while being associated with IIFL Securities used to provide stock recommendations on media channels and investigation revealed that, prior to his appearances on media channels, Bhasin would first buy securities himself, then would recommend the same securities to public on news channels. Once prices of securities increased after his recommendations, Bhasin would sell the securities and make a profit. Sebi alleged that Bhasin manipulated the prices of securities and made ill-gotten gains. It has directed them to disgorge ill-gotten gains of ₹11.37 June last year, Sebi conducted a search and seizure operation across multiple locations in NCR (national capital region) which led to discovery of critical evidence including WhatsApp chats and audio recordings that revealed the modus operandi used by Bhasin in operating the fraudulent scheme of creating contrary position of his own recommendations in the form of BTST (buy today sell tomorrow). The regulator's probe also revealed that Lalit Bhasin, a cousin of Sanjiv assisted him at times in placing the alleged fraudulent trades.

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