Analyst who made â¹24 lakh in an hour faces â¹5.24 crore fine
An ex-analyst, who made $37,000 (â¹24 lakh) in an hour investing in Vallourec before he published a recommendation raising the company to "outperform", is now facing a $815,000 (â¹5.24 crore) insider-trading fine. Former Kepler Cheuvreux analyst made trades based on draft recommendations the brokerage was set to publish hours later. In total, he made $315,000 on transactions over two years.