Poonawalla Fincorp Falls 5% After Sebi Bans Managing Director For Insider Trading

Poonawalla Fincorp shares fell 5 per cent on Thursday after the market regulator banned the managing director of the non-banking finance company and seven others from the securities market for insider trading. Managing Director Abhay Bhutada was found guilty of sharing information about Adar Poonawalla-owned Rising Sun Holdings' proposed stake buy in the company before it was public knowledge, the Securities and Exchange Board of Ind...