Aug 8, 2017

SEBI Shocked Stock Market today

SEBI has shocked Stock market today. It has banned 331 companies that will trade only on 1st of every months now. Next trading on 4th of Sept, 2017. The issue won't settle so soon. Many companies will go to court etc.

About 140 companies out of 331 are from Kolkata region.

Many companies banned are well known too. Example: Prakash industries are J Kumar Infraprojects big companies. Prakash industries was in highlight as Rakesh Jhunjhunwala is invested here. J Kumar Infraproject is known due to many report about its order book and its investment worthiness.

Know about SEBI rule for trading in these 331 listed companies. Also, list is available of banned companies. Search able list could not be found. 

HDIL touched 20% lower circuit. Settled at 18% loss. Many companies given lower circuit and given heavy loss to retail investors in companies that are not even in SEBI banned companies list. MidCap and SmallCap index posted ~ 1.25% loss and Sensex posted 0.78% loss.

Optiemus infracom has NSE listing today. Its manufactured Blackberry KeyOne was available for purchase on Amazon today. But this stock posted 8.87% loss.

Sebi introduces GSM, stricter surveillance for stocks

This process actually started on June 9, 2017. These companies failed Modi's demonetization! Over lakh of shell companies got closed. Today was the day for listed companies. Corruption won't be toletrated.
Retail investors got struck in many of these companies as they cannot come out. Even when it will be available for trading on 4th of Sept then that day it is allowed to sell but not to buy. (Don't understand what this mean! If not allowed to buy and how anyone can sell?)