NSE imposes Rs. 82.9 lakh penalty on Emkay Global for client code modifications

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EMKAY · price

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Price reactionminutes from the announcement price · days from the prior close

-2.0%Reaction day

₹266.50

prior close

₹267.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-2.8% vs market

Stockbroking & Allied peers, median of 39sector+0.0%-2.0% vs sector

On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 2.0 pts less than its Stockbroking & Allied peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.5

10m

+1.6

15m

+2.4

30m

+2.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.0+0.8-2.8+0.0-2.0

Next day

+1.3+1.0+0.3+0.5+0.8

+5.4+1.7+3.7+0.0+5.4

+2.1+0.1+2.0+0.0+2.1

+4.1+0.8+3.3+1.0+3.1

+2.4-0.9+3.3-0.9+3.4

-3.9-4.5+0.6-4.5+0.6

15d

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UpDownMarket · Nifty Microcap 250Sector · Stockbroking & Allied peers, median of 39Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NSE imposed a Rs. 82,90,000 monetary penalty on Emkay Global as a Trading Member for client code modifications using the Member ERROR Account during May to July 2026. The company received the communication on October 7, 2026 and plans to file an appeal, expecting a favourable outcome. Beyond the penalty, no material financial impact is expected. The disclosure was filed late and the company has requested condonation of delay.

Likely market impact

Minor penalty of about Rs. 82.9 lakh; company plans appeal. No material financial impact beyond the penalty amount.