SEBI warns of strict action
By Our Banking Bureau | 28 Feb 2004
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Mumbai: Mr G.N. Bajpai, Chairman, SEBI, yesterday said that the stock market regulator was on "high alert" and will take strict action against those found guilty of manipulating the markets.
"We are watching the price movements closely and are prepared to take prompt action against any unusual movement," he said after attending a meeting of the high-level committee on capital and financial markets.
Asked whether any players were involved in hammering down the prices, he said, "The markets have various sets of participants and we are watching them."
On the market regulator's action on basis of Mr Shourie's statement, Mr Bajpai said: "I will not like to comment on statements by the Minister."
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