CSFB connived with KP outfits, says Sebi
Mumbai: The Securities & Exchange Board of India, in its report submitted to the Finance ministry, has found that Credit Suisse First Boston connived with Ketan Parekh's outfits to manipulate the markets. Sebi has found that CSFB has carried out large scale financial transactions with Ketan Parekh's outfits, that were made to look like genuine buy and sell transactions, and thereby creating an artificial market. This was the reason why it had barred CSFB from carrying out any further brokerage activity.

Sebi's investigations show that although these transactions were primarily financing transactions, they were made to seem like sale and purchase deals at the same time by two different parties. The buyer and seller, however, were found to be from the same source -- Ketan Parekh's group.

CSFB will be presenting its side of the story on April 30, before Sebi.
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Sebi finds Rathi guilty of insider trading
New Delhi: The Sebi's preliminary report says there is prima facie evidence of insider trading by former BSE president Anand Rathi and his companies.

The Sebi board has also endorsed the trading ban imposed on Rathi and his group companies.

It has been suggested that there is enough evidence to conduct a detailed investigation against Mr Rathi.

Rathi stopped down as president of the BSE after taped conversations revealed that he obtained market sensitive information about share transactions of other market players including FIIs, from the BSE surveillance department. He used this information to hammer down prices, which contributed to the crisis in the stock market.
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Sensex inches forward despite pivotals
Mumbai: The stock market showed the sixth consecutive upward March on Monday, April 23, although it was a marginal lift upwards. This was despite bear hammering on heavyweights like Infosys, Reliance and Satyam Computers.

The lift mainly came from old economy stocks , like ACC, BHEL, Tata Steel, L&T, Hindalco, Tata Engineering, and others.

There was also some buying interest in the second rung of software stocks.

The BSE Sensex gained 4 points closing the day at 3587.01 while S&P CNX Nifty gained almost 6 points during the day. Nifty followed suit by gaining 5.75 points, to close at 1149.75.
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