IIFL Securities shares tumble 7% as Sanjiv Bhasin faces SEBI inquiry

IIFL Securities stock performance was influenced by the association with Sanjiv Bhasin, facing SEBI inquiry for alleged stock manipulation. The company's significant stock returns over the past year were impacted by market actions. Bhasin's role in directing stock purchases and generating retail interest is under investigation, affecting the stock price movement.