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Capital markets regulator SEBI has barred 59 entities with immediate effect, including Riddhi Siddhi Bullion from buying and selling in the capital market for unfair trade practices while trading in stock options on the BSE between April 1, 2014, and March 31, 2015. SEBI observed that trading of these entities appeared abnormal as they were consistently seen making significant loss by their trades which were reversed with the same counterparties either on the same day or the next day.
Analysis revealed that there were several entities who consistently made significant losses and others who consistently made significant profit by executing reversal trades in stock options on the BSE.
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