Announcement under Code of Conduct under SEBI (PIT) Regulations 2015

Insider Trading ChargeRegulatory & Legal View source PDF Explain this filing

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.3%Reaction day

₹117.50

prior close

₹119.75

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.7%-2.0% vs market

Investment Company peers, median of 60sector+0.0%-1.3% vs sector

On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 1.3 pts less than its Investment Company 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

+0.0

10m

-0.1

15m

-3.1

30m

-1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.3+0.7-2.0+0.0-1.3

Next day

-2.6+1.2-3.8+0.7-3.2

-3.0-0.3-2.7-0.3-2.7

+1.3-0.7+1.9-1.2+2.4

-2.3-0.4-1.9-0.9-1.4

-1.3-1.4+0.0-1.6+0.3

+2.1-3.4+5.5-3.6+5.7

15d

+10.4+0.9+9.5-0.7+11.1

+9.7+1.5+8.3+0.1+9.7

+12.9-3.6+16.6-4.5+17.4

+4.7-0.8+5.5-1.9+6.6

UpDownMarket · Nifty Microcap 250Sector · Investment Company peers, median of 60Pending

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

AI summary

Garnet International Ltd informed BSE about an alleged insider trading violation by Kirti Gaggar, the immediate relative of Suresh Gaggar (Executive Director and Promoter Group member). The violation involves share trades executed during the trading window closure period, spanning from July 2023 to February 2025, with numerous buy and sell transactions (some large, like a ~Rs 28 lakh buy on 20-Oct-2023). The Audit Committee has issued a show cause notice to the relative and further proceedings are underway, with the final outcome to be communicated to the exchanges.

Likely market impact

This is a negative governance signal. The company may face penalties, fines, or stricter regulatory scrutiny from SEBI once proceedings conclude. Short-term sentiment could weaken as investors react to insider trading-related concerns, though the impact is moderated since the violation is by a relative (not the designated person directly) and no penalty has been imposed yet.