The Securities and Exchange Board of India (SEBI) and stock exchanges have put their surveillance systems on ‘high alert’ in view of the government’s estimated Rs.24,000-crore mega share sale in Coal India Ltd. (CIL) on Friday.
“The surveillance activities have been stepped up significantly, and all systems are on high alert to thwart any manipulative activities in the market in view of the proposed offer for sale of state-run CIL,” a source said. There are also concerns about manipulative activities following trends witnessed with regard to some other disinvestment share sales. It has also come to the notice of SEBI and the government that media speculations about disinvestment has led to market speculations that have adversely affected the share prices and eventually the divestment programme.
