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The regulator's action followed an internal analysis by the National Stock Exchange, which flagged an abnormal trading pattern by Prrsaar. The entity was found to be earning higher profits in stock options while incurring losses in stock futures, Sebi said. Prrsaar, which is registered as a stock broker, depository participant and research analyst, was asked by NSE to provide clarifications in February and March 2026. Read more: UPI MDR could create Rs 27,000 crore revenue pool by FY28: Bernstein Following this, its proprietary trading activity declined significantly, while similar activity by Chaubara increased substantially, indicating a sequential shift in trading activity between the two related entities. Sebi said it had examined 23 instances involving the two entities - 13 profit scrip days for Prrsaar and 10 for Chaubara - and found prima facie evidence of manipulation across the futures and options segments. The regulator alleged that they would first place large aggressive orders in stock futures, either buying at prices higher than the last traded price (LTP) or selling below the LTP. Read more: NSE IPO: Every Rs 10 move in shares could swing Radhakishan Damani’s wealth by nearly Rs 40 crore At the same time, they had already placed orders in the options segment in the opposite direction. The aggressive futures trades pushed the price of the underlying futures contract sharply up or down. The movement in futures prices then influenced the corresponding options prices. This allowed the entities' pre-positioned options orders to get executed at favourable prices. The entities would then reverse the entire sequence within a short period by taking opposite positions in the same stock's futures and options contracts. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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