Mumbai, March 31 (IANS) The Securities and Exchange Board of India (SEBI) has initiated regulatory action against Elitecon International Ltd after finding prima facie evidence of a pump-and-dump scheme in the company’s shares.The capital markets regulator observed that the stock surged more than 60 times within a short period before witnessing a sharp decline, a pattern it said was indicative of manipulative trading.In addition, the price rally was allegedly supported by coordinated trades and…
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