Friends, new scandal in stock market - Harsh Chacha's words

Deal Cadet

  • Harsh Goenka, Chairman of RPG Group, has raised concerns about the return of stock market malpractices similar to those seen during the Harshad Mehta and Ketan Parekh era1.
  • He has noticed these malpractices primarily in Kolkata, where promoters are inflating profits and, in collaboration with Gujarati-Marwari brokers, driving their stock prices to unrealistic levels1.
  • Goenka has called on the Securities and Exchange Board of India (SEBI) and the Finance Ministry to investigate these issues before small investors suffer severe losses1.
  • His tweet on this matter has gained significant traction, with many users agreeing with his viewpoint1.
  • One user pointed out that major Steel houses have seen their shares increase dramatically, with one company’s shares increasing close to 30x in the last year1.
  • There is a widespread concern among users about the potential for small investors to suffer significant losses in the event of a market crash1.
  • The article also mentions a significant market drop on May 3, with a broad-based sell-off leading to two of every three stocks on BSE trading in the red1.
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Wingman Wingman
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Could it result in a crash?

Deal Cadet Deal Cadet
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No because now that हर्ष चाचा has disclosed the scam publicly the criminals including the nexus of companies, brokers, govt employees etc will exercise caution, stop the scheme temporarily or operate slowly instead to avoid unwanted escalation of forced govt intervention

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Finance Mentor Finance Mentor
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invested in good names, I won't bother...

Deal Newbie Deal Newbie
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goenka ji has not done anything to protect investors or bring justice to the wrongdoings he noticed. He is a selfish man with vested interests.

Commentator Commentator
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One steel company based in Kolkata has a profit growth of 600% against sales growth of only 5%. A profit re entry of nearly 1700 crores in balance sheet to inflate profit.

Deal Cadet Deal Cadet
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which company, can you share in dm
Deal Newbie Deal Newbie
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Seems he want to buy good stocks ar lower price stuck_out_tongue_winking_eye

Generous Generous
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Ham to crupto wale hain.. 200 300% tak down par bhi khish hi hote hain.. wo aayega for se..with better gain..

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