On August 6, 1992, after the scam was exposed, the markets crashed 72 per cent, leading to one of the biggest falls and a bearish phase that lasted two years. It was considered one of India's biggest stock market regulatory failures. At least one senior public servant, M J Pherwani, chairman of Unit Trust of India and National Housing Bank, killed himself as a result.
A market crash led by the fortunes of a prominent business house, following the report of a short-seller, is all that is common between then and now.
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Diese Geschichte stammt aus der February 06, 2023-Ausgabe von Business Standard.
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India-Pak WC clash could fetch $4,800 a second in ad spend
Global firms are splurging on advertising for the upcoming cricket match between India and Pakistan to be held in the US, tapping into the spending power of the South Asian diaspora.
Bureaucracy braces for change with hope and apprehension
Officials fear re-emergence of coalition politics may lead to delayed or disjointed decisions
'Tax origin not suitable to measure budgetary devolution to states'
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DISCREPANCIES IN TECHNICAL BIDS - Govt likely to give two weeks to ACC PLI applicants
The central government is planning to give a two-week window to the applicants of the 10 GWh tranche of the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme to submit all the necessary documents, Business Standard has learnt.
Moody's flags concerns over coalition challenge
Says reduced political stability might erode investor confidence
ET Money suspends transactions in Quant MF schemes
Online mutual fund (MF) distribution platform ET Money on Friday said it had suspended fresh lumpsum investments and SIP registration in Quant MF schemes owing to pending 'business and operational integration' with the fund house.
Mirae Asset mulls $150 mn infusion into Sharekhan
South Korea's financial services major Mirae Asset Capital Markets plans to infuse over $150 million into retail broking arm Sharekhan for expansion into wealth and portfolio management business, said sources.
MARKET CRASH AFTER POLL RESULTS - Plea urges SC to direct govt, Sebi to investigate
A lawyer has filed an application before the Supreme Court \"to direct\" the government and the market regulator to give a report on the share market crash and loss to investors after election results Tuesday.
Markets make sharp recovery but a third of stocks still in red
PSES, Adani, infra stocks among laggards
Sebi plans to open CDS market for MFs
The Securities and Exchange Board of India (Sebi) is planning steps that will increase participation and allow greater flexibility for mutual funds (MFs) in the credit default swap (CDS) market.
