RPG’s Harsh Goenka Cautions Retail Investors: Harshad Mehta-Era Returns, Potential Losses Looming
Release: 2024/05/05 11:46 Reading: 949
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RPG Group Chairman Harsh Goenka warns retail investors of potential ‘severe losses’ in the booming stock market.
Goenka claims that malpractices from the Harshad Mehta and Ketan Parekh era are resurfacing, particularly in Kolkata.
The business leader alleges that stock prices are being driven to unrealistic levels as promoters inflate profits in collusion with Gujarati-Marwari brokers.
Harsh Goenka, Chairman of RPG Group, raises concerns about potential severe losses for retail investors due to alleged malpractices in the booming stock market. He calls for intervention from SEBI and the Finance Ministry.
Goenka’s Warning to Retail Investors
Harsh Goenka took to social media to express his concerns about the current state of the stock market. He warned that malpractices from the Harshad Mehta and Ketan Parekh era are making a comeback, especially in Kolkata. According to Goenka, promoters are inflating profits and, in collusion with Gujarati-Marwari brokers, driving their stock prices to unrealistic levels. He urged SEBI and the Finance Ministry to step in and investigate before small investors suffer severe losses.
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Appeal to Authorities
Goenka also appealed to top authorities including the finance ministry and ... Read the full article for FREE at COINOTAG!
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