Television

Stock markets crash after Ketan Parekh arrested

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/11/05/Ketan%20Parekh.jpg?itok=G0W1RTEM

If it's Friday India's stock markets must crash has almost become a given ever since Yashwant Sinha presented his "dream budget" end-February (and two weeks prior). The Bombay Stock Exchange Sensitive Index (Sensex) crashed by 147.18 points following the arrest of major bull operator Ketan Parekh by the Central Bureau of Investigation (CBI).

Parekh was held on charges of draining out Rs 1,370 million from Bank of India (BOI) through pay orders issued by Madhavpura Mercantile Co-operative Bank in Ahmedabad, Gujarat.

Parekh was taken into custody by the CBI's Bank Security and Fraud cell and is to be produced in court today morning. The worst hit were again the new economy or ICE (information, communication and entertainment) stocks because it is here that Parekh had maximum exposure. The euphamistically called K-10 (ten favourite stocks of Ketan Parekh) counters like Himachal Futuristic, Global Tele-Systems, SSI Ltd, DSQ Software, Zee Telefilms, Silverline, Pentamedia Graphics and Satyam Computer bore the brunt of investors wrath.

This is the second big scam involving banks and stock brokers after the securities scam of 1992 in which the infamous "Big Bull" Harshad Mehta was involved. That scandal involved the illegal channelling of bank funds of over RS 50,000 million into the stock market through the collusion of bankers, brokers, and public and private sector companies. Parekh's name was linked to this case as well but he was a relatively minor player then.

The CBI registered a case against Parekh after BOI filed a complaint Parekh had defrauded it. After the case was registered, the CBI raided Parekh's residential and office premises in Mumbai yesterday.

The stock markets went into a free fall on the last day of the settlement on BSE as panicky investors resorted to selling. The BSE 30-Share Sensitive Index (Sensex) fell by 147.18 points to 3604.38 from its previous close of 3751.56.

Finance Minister Yashwant Sinha, meanwhile, speaking in Delhi, said that the market regulator, Securities and Exchange Board of India (SEBI), was looking into the issue, indicating that some action could be taken only after its inquiry was over.

In a related development in Kolkata, CBI sleuths launched operations at the office premises of some leading stock broking firms after Parekh's arrest.

The Black Friday record: The Sensex tumbled by 107.67 points on 16 February, 140.39 points on 23 February, 176.49 points on 2 March, 174.98 points on 9 March, 74.12 points on 16 March and 78.69 points on 23 March.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/22/pramod%20%281%29.jpg?itok=X3UbSddA
Pramod Chandorkar is IRAA awards director

The Indian Recording Arts Academy has announced Pramod Chandorkar as the Awards Director. Pramod has been working as a Sound Engineer since 1995. He has worked on numerous mega hit albums and films as Chief Sound Engineer. He is one of the few audio engineers who have excelled in all branches of...

Television TV Shows Awards
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/22/Kalanithi-Maran.jpg?itok=byGkIFgE
Sun TV to benefit greatly from DAS III & IV: Centrum Broking

MUMBAI: Stockbroking firm Centrum Broking’s research team is relatively bullish on the Sun TV Network. In its latest report, Centrum has stated that Sun TV has said that recent developments bode well for the Kalanithi Maran promoted southern TV network. “We draw comfort from the court’s recent...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/21/akash-chawala.jpg?itok=turVwkEr
Akash Chawla bids adieu to ZEEL after 12 years

MUMBAI: Zee Entertainment Enterprises company Zee Studio's executive vice-president - films, and business head Akash Chawla has resigned after a long stint of 12 years.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/21/Ghost-buster_0.jpg?itok=pN9k_YTs
Tickle your funny bone with 'Ghostbusters' on Sony Pix

MUMBAI: Horror flicks never go out of fashion. And, if it has ghosts with a funny bone, you are in for a treat. Sony Pix is all set to premiere the cult Ghost-comedy film Ghostbusters on 26 February at 1 pm and 9 pm.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/21/inside-800x800.jpg?itok=_rxsCsI-
Star Plus, Jalsha & Zee telecast challenged in B'Desh SC

MUMBAI: An appeal has been filed in the Bangladesh Supreme Court challenging the country's High Court verdict that approved continuing of telecast of three Indian TV channels. The Bangladesh High Court had paved the way for continuance of telecast of Star Plus, Zee Bangla and Star Jalsha. The...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/21/UK%20TV.jpg?itok=7UJUL8VJ
India's UK TV content imports rise to Rs 125 crore in 2015-2016

MUMBAI: India is the second fastest growing market for the UK content. That’s the findings of the latest TV export report for 2015-2016 released by the Producers Alliance for Cinema & Television (PACT). The report states that imports of British content by Indian broadcasters grew a handsome 43...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/20/BIG-Magic_Akbar_Logo.jpg?itok=WhRLhaGi
Big Magic to air 'Akbar' from 20 Feb

MUMBAI: BIG Magic, a variety general entertainment channel, adds yet another unique offering to its bouquet of shows with the launch of a first-of-its-kind historic drama, ‘Akbar’.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/20/IPL-2017%20%281%29_0.jpg?itok=6bGpZAhN
IPL 2017 auction: Ben Stokes, Tymal Mills top overseas buys, Karn Sharma biggest Indian buy

England’s all rounder Ben Stokes at Rs. 145 million (RPS) followed by compatriot Tymal Mills at Rs. 120 million (RCB) were amongst the top foreign buys, while Indians player Karn Sharma was picked by MI for Rs. 35 million at the Indian Premier League (IPL) 2017 auction that began in Bengaluru...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/20/Big-Little-Lies%20%281%29.jpg?itok=T6WzQH0j
Star World Premiere HD set to air 'Big Little Lies'

Star World Premiere HD is now all set to premiere one of the most awaited series of the year –Big Little Lies on 21 February at 10 pm.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories