LKP Merchant Financing on Wednesday sold 65 lakh shares of debt-laden Kingfisher Airlines for nearly R7 crore through an open market transaction. According to bulk deal data available on the stock exchanges, LKP Merchant Financing offloaded 65 lakh equities of Kingfisher Airlines for R10.54 apiece, valuing the deal at R6.85 crore. However, buyers of the shares could not be ascertained. Last week, LKP Merchant Financing sold 78.51 lakh shares of Kingfisher Airlines for R9.57 crore. As of June 23, 2012, LKP Finance held 13,32,96,791 shares, or 16.48% stake, of Kingfisher Airlines. Shares of Kingfisher Airlines fell by 6.38% to close at R10.27 apiece on the BSE.
Indian-origin doctors face insider trading case in US
US market regulator SEC has charged five doctors, including some of Indian origin, in an insider trading case and the physicians have agreed to pay more than $1.9 million to settle the charges. The doctors were charged of insider trading in the shares of a medical professional liability insurance company, on the basis of confidential information about an anticipated acquisition, SEC said in a statement late last night. The SEC had charged that Apparao Mukkamala, one of the five doctors, learned confidential information from board meetings and other communications about the anticipated acquisition of American Physicians Capital (ACAP) by another insurance company.
Indians consult more when investing online: Survey
Indians are more dependent on others while taking decisions for investments through internet compared to global peers, says a survey by Nielsen. Over two in five, which is 41%, of online Indian consumers make their own decisions for investments with mutual funds, metals, stocks and bonds emerging as their preferred options, according to the Nielsen Global Survey of Investment Attitudes. The survey, however, said compared to ordinary customers, net savvy Indians are more independent while taking investment decisions.
