A special Central Bureau of Investigation court had acquitted all key accused in the case, including former telecom minister A Raja and DMK Member of Parliament Kanimozhi, in the Rs 30,000-crore 2G spectrum allocation scam case.
Shares of Reliance Communications, DB Realty and Unitech had gained 35 per cent, 5 per cent and 4.4 per cent, respectively, on December 20 over December 19. On December 21, all three shares and those of Sun TV and Videocon, too, were up between 3.8 and 20 per cent over the previous day.
Sources said the market regulator has initiated preliminary investigations based on the ED’s letter and has sought trade data of all companies concerned.
“Trade positions of individuals and promoters are being looked into and accordingly a report would be submitted,” said a source privy to the development.According to him, the market regulator would also look into the role of individuals associated with the 2G issue and who might have traded on the information.