What to Watch. SEBI show-cause may choke Aksh Optifibre

Aksh Optifibre on Wednesday said that it has received a show-cause notice from the Securities and Exchange Board of India pertaining to the GDR issue. According to information available with the bourses, the company had raised $25 million through GDRs in 2011. However, according to the latest annual report, there are no outstanding global depository receipts. Shares of the company may come under pressure, while investors would closely monitor the development.