2024-05-05 12:55:16
New Delhi: Veteran industrialist and RPG Group Chairman Harsh Goenka has raised many serious questions regarding share prices. He has accused him of manipulation in share prices. He urged SEBI and the Finance Ministry to intervene and investigate the matter, so that small investors can be saved from huge losses. He is very active on social media. Harsh Goenka wrote in a tweet on social media platform X on Saturday that amidst the boom in the Indian stock markets, many promoters are exaggerating the profits. He is working with brokers to push his stock prices to unrealistic levels. This also includes Marwari and Gujarati brokers. He has said that the stock price is being played with in Kolkata. He has chalked it up to the return of the Harshad Mehta and Ketan Parekh era.
said this big thing
Harsh Goenka, in a post on It is time that SEBI and the Finance Ministry intervene and investigate before small investors suffer huge losses.” This tweet comes after the sharp fall in the stock market yesterday, when the BSE Sensex fell by almost 1,000 points in the day’s trading and fell below 74,000 points. Similarly, NSE’s Nifty also fell by more than 200 points and fell below 22,450 points.
What was Ketan Parekh scam
After the Harshad Mehta scam, the Ketan Parekh scam was the second most significant scam that rocked the Bombay Stock Exchange. Ketan Parekh, who learned the tricks of trading from Harshad Mehta, also did the same thing which Harshad Mehta had done 10-15 years before him. In the beginning of the year 2000 and before that, Ketan Parekh had sensed that the IT sector in the country would show rapid growth, hence Ketan Parekh started investing in IT stocks. But, to take advantage of this opportunity, he chose small companies and made big money through ‘pump and dump’.
The stock market came to know of Ketan Parekh’s scam when the Mumbai branch of Bank of India alleged that Ketan Parekh had defrauded them of Rs 137 crore. After this there was a big fall in the stock market.