Shares of
IndusInd Bank
rose over 1% in early trade on Thursday after capital markets regulator Securities and Exchange Board of India (Sebi) barred the company’s former CEO Sumant Kathpalia, and four other senior officials from accessing the securities markets for alleged insider trading. In the last five out of six sessions, the private lender’s share price has risen nearly 6%.
Early today, IndusInd Bank shares opened a tad lower at ₹803.05 after ending 2% lower at ₹804.75 on the BSE in the previous session. However, the banking stock soon pared losses and gained as much as 1.5% to ₹816.95 in the first hour of trade so far. The market capitalisation of the private lender climbed to
₹63,365 crore.
The capital markets regulator, in an interim order, restricted former IndusInd Bank CEO along with four other senior executives, from the securities market. The four others named in the Sebi order are former executive director and deputy CEO Arun Khurana, treasury operations head Sushant Sourav, GMG operations head Rohan Jathanna, and Anil Marco Rao, chief administrative officer of consumer banking oerations. “All the Noticees, viz. Noticee Nos. 1 to 5 are hereby restrained from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever, until further orders,” SEBI’s interim order states.
