News for HB Stockholdings Limited (HBSTOCK.BO)

Sebi barred Sanjiv Bhasin from capital markets for manipulating stock prices by recommending shares on TV after buying them. Profits of Rs 11.37 crore were impounded, exposing a front-running scam using media influence and proxy accounts.

HB Stockholdings Ltd. saw a 19.99% share price increase after reporting a 71% profit increase for Q2 2023, to ₹9.76 crore from ₹5.67 crore in the same period last year. Revenues also rose to ₹10.37 crore, with a 38% sequential increase from ₹7.02 crore in the previous quarter.

Reliance Industries and many Group B stocks figure in the list. The advance-decline ratio remained strong as more than two shares gained for every declining share on the BSE. Strong buying interest as well as a bit of short-covering in beaten-down stocks play a key role.