Insider Trading Suspicions on Himalayan Distillery’s shares!
Analysts have made allegations against Himalayan Distillery claiming “Insider Trading” of its shares.
Suspicions are held on the ground that Himalayan Distillery’s decision to announce lucrative dividends was leaked prior to the general assembly, resulting in unusual surge in its share price. Market analysts have contended that the company’s share price rocketed by 10% this Monday with large trade volumes, despite a preceding “relatively normal” trade pattern.
Nepse, on a suspicion of insider trading, is eyeing for an investigation on Himalayan Distillery. As per Nepse’s spokesperson, Murahari Pujari, “The supervision department shall conduct an investigation if complaint is filed regarding insider trading of Himalayan Distillery’s shares”. He added “investigations will be initiated by the department itself if recent share transactions of the company prove to be unusual”.
Nepse has vowed to hand out recommendation to SEBON for penalizing the ones held responsible, if allegations of insider trading are proven right.
As per the accommodation in SEBON’s Act, the ones held liable for their involvement in insider trading shall be penalized Rs 50,000 – 150,000 or a year in jail or both.
