WAAREE Energies reports a violation of its Insider Trading Code of Conduct by a Designated Person. The individual executed transactions without pre-clearance and conducted a contra trade within six months. The company has issued a warning and directed the individual to remit ₹1,400 in profits to the SEBI Investor Protection and Education Fund (IPEF).
Violation of Insider Trading Code
WAAREE Energies has identified a violation of its Insider Trading Code of Conduct by a Designated Person, Ruchit Jain. The violation involves trades executed without obtaining the required pre-clearance and a contra trade within six months.
Details of the Trades
The transactions occurred in November 2025. On November 19, 2025, 100 shares were purchased for ₹3,16,700 and sold on the same day for ₹3,13,920, resulting in a loss of ₹2,780. Subsequently, on November 20, 2025, 100 shares were purchased for ₹3,26,500 and sold for ₹3,27,900, resulting in a profit of ₹1,400.
Corrective Actions
WAAREE Energies has taken the following corrective measures:
- Issued a written warning to Ruchit Jain, emphasizing the importance of strict compliance with the Code of Conduct and SEBI regulations.
- Directed Ruchit Jain to disgorge the profits of ₹1,400 from the trade.
- The profit of ₹1,400 has been deposited in the SEBI Investor Protection and Education Fund (IPEF).
Source: BSE
