ICICI Securities shares rally nearly 5% after company settles case with Sebi

Shares of ICICI Securities jumped 5% in trade on Friday after the company settled charges of alleged violation of stock broker norms, without admission or denial of any wrongdoing, with markets regulator Sebi In terms of volume, intra-day spurt in trading of ICICI Securities' shares was more than 1.20 times, as per BSE data.In a case of fraudulent trading by bogus entities through several brokerage houses, ICICI Securities has settled charges of alleged violation of stock broker norms without admission or denial of any wrongdoing with markets regulator Sebi.ICICI Securities has settled the case by paying over Rs 2800000 towards settlement charges, the Securities and Exchange Board of India (Sebi) said in a settlement order.The shares of the company closed 5.17% higher at Rson BSE.