Pump and Dump Scheme
On June 1st, 2024, the Securities Exchange Board of India’s (SEBI) slapped a fine of Rs 7.75 crore on 11 individuals for allegedly operating a ‘pump and dump’ scheme in the scrip of Svarnim Trade Udyog.
- The pump and dump scheme was operated through recommendations shared through Telegram channels, resulting in public shareholders purchasing the stock at an inflated price.
What is Pump and Dump Scheme?
- In the stock market, a pump and dump scheme is a type of manipulation activity that involves artificially inflating the price of a stock through false and misleading information, only to sell the stock at ....
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