Sebi bars brokers for price rigging
Mumbai: The Securities and Exchange Board of India has debarred seven entities and a broker from dealing in the securities market for one year from 1 March for alleged price rigging and manipulation in the scrip of Cox & Kings Travel and Finance six years ago.

Sebi also directed Virtue Financial Services and its managing director S R Batra not to deal in securities for one year with effect from 1 March for price manipulation in the scrip of Amtek (India).

Sebi debarred Madhuvan Trades & Fin, Magnificent Apts (now Richhold Apartments), Richhold Properties and Mayank Properties & Finance (now Richhold Trading) from trading for violation of Sebi regulations.

Zircon Properties (now Richhold Enclave & Finance), Global Trust Finance Corporation, Progressive Tea Management and Shankarlal Saraf have also been restrained from trading for violation of Sebi regulations.

Sebi's investigations revealed that the shares of Cox and Kings were cornerd by a group of persons on the Bombay stock exchange, which resulted in the price manipulation.
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Sterlite plans LSE listing for Balco
Mumbai: Sterlite Industries plans to raise money abroad to fund expansion of Bharat Aluminium Company.

Sterlite plans to list on the London Stock Exchange to help fund a Rs 4000-crore capacity expansion at Balco.

Sterlite plans to increase Balco's capacity to 300,000-400,000 tonnes per annum by 2005 from 100,000 tpa.
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