SEBI bans firm as it hits ₹5,800 crore m-cap with zero revenue

SEBI has barred LS Industries from the market till further orders after it achieved roughly ₹5,800 crore m-cap without any revenue for the past three quarters. "There is...need to act before another pump and dump happens," SEBI said. SEBI also found that an ex-director sold shares worth ₹10.28 crore to an NRI for $1, which later surged to ₹2,752 crore.