Mudit Goyal News Today

Mudit Goyal, who was one of the noticees in the interim order involving guest experts on television, approached an RA to ‘rent’ a licence

The regulator has asked guest experts to disgorge Rs 7.41 crore unlawful gains made by them by taking opposite positions in the market than they recommended on the channel.

Market regulator Securities and Exchange Board of India (SEBI) has ordered the impounding of Rs7.41 crore unlawful gain earned from fraudulent and unfair activities by guest experts appearing on Zee business channels and their connected entities.

Some of them have also been barred from trading in the market until further orders, SEBI said in its order on February 8

Get latest articles and stories on Latest News at LatestLY. Sebi on Thursday barred 10 entities, including guests experts, appearing on a business news channel from the securities market and directed seizure of unlawful gains of Rs 7.41 crore made by them through alleged stock manipulation. Latest News | Sebi Bans 10 Guest Experts, Entities from Market for Share Rigging Via TV Show.

The experts used advance information to make profit by trading on the basis of such advance information knowing that investors would act on the recommendations, says SEBI

Sebi finds guest experts sharing advance information on stock recommendations with profit makers before broadcast on Zee Business. 

The fine was slapped for unlawful trades done by some of them based on the recommendations given by the experts when they appeared on Zee Business news channel between February and December 2022.

Profitmart is bullish on Megastar Foods has recommended buy rating on the stock with a target price of Rs 475 in its research report dated December 08, 2023.