Connect with us

Hi, what are you looking for?

Finance

Axis Bank dives 2% after Sebi order to probe data leak

New Delhi: Shares of Axis Bank today tanked nearly 2 per cen..

New Delhi: Shares of Axis Bank today tanked nearly 2 per cent after market regulator Sebi ordered the lender to conduct a probe into the alleged data leak.

In its first order in the WhatsApp leak case, regulator Sebi last night ordered Axis Bank to strengthen its systems and conduct an internal probe to fix responsibility as the initial investigation showed that the leakage was due to "inadequacy" of processes at the bank.

The stock slumped to a low of Rs 544.35, down 1.83 per cent from its previous close on the BSE.

On the NSE, it opened at Rs 546.15, lost ground and hit Rs 544, down 1.91 per cent.

Axis Bank late last night had said it would work with Sebi on the issue of 'leakage' of unpublished price sensitive information and take appropriate action.

Axis Bank has to complete the inquiry within three months and file a report to Sebi within seven days thereafter, the regulator said, after it found that the company's results for the June quarter were "either identical or matched closely with the figures" in circulation on WhatsApp prior to an official announcement.

"The bank will work with Sebi and the best experts in the field to investigate the matter and will take action as appropriate," Axis Bank Executive Director Rajesh Dahiya had said yesterday.

Original Article

[contf]
[contfnew]

ET Markets

[contfnewc]
[contfnewc]

The post Axis Bank dives 2% after Sebi order to probe data leak appeared first on News Wire Now.

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..