Mumbai: Securities and Exchange Board of India (SEBI) has sought data on the trading pattern in the public sector stocks like IBP, IPCL to analyse presence of any price hammering in PSU (Public Sector Undertaking) stocks, where Government is either reducing stake or selling off its residual holding.

The capital market regulator is closely watching the stock movements and seeks information when prices move up and down including those in public sector stocks, SEBI sources said today (Feb 25, 2004).

This is a part of normal market monitoring mechanism, they said.

The Bombay Stock Exchange (BSE) official said the market has been volatile for the last few days and SEBI and the exchanges work together to examine occurrence of any price manipulation.

Concerned over the lukewarm response to public issues in various companies, particularly IBP, Union Disinvestments Minister Arun Shourie in Delhi said the Government had identified people responsible for pulling down stock prices.

The Government has fixed the responsibility of financial advisors to motivate and inform the public on the offerings, he said.