India ko short kiya toh…: Fininfluencer Vijay Kedia's ‘new song’ on stock markets amid Adani crisis
1 min read . Updated: 03 Feb 2023, 11:05 PM IST
PremiumIn its 100-page report, Hindenburg announced that it had taken a short position in Gautam Adani's companies through US-traded bonds and non-Indian-traded derivatives
Amid massive share sell-off since the Adani group crisis came into the foray, ace investor Vijay Kedia tried his bit so that retail investors don't lose confidence in the Indian market.
Wrapping the 40 years journey of the Indian markets, Kedia performed a song that roughly translates as ‘believe in India. Participate in the Indian growth story’.
The video that was posted on Friday late evening has already gone viral and garnered close to 2,000 likes and about 250.
Watch video here:
Appreciating the effort, his Twitter followers thanked him for ‘giving confidence’ to the retail investors.
One follower said, ‘Wow!! Thanks for giving confidence Sir ji to retail investors as always !!!’
Believe in India. Participate in Indian growth story. This Era belongs to Bharat. Jai hind, commented another.
Third person said, 4 line me bahut kuch smjha diya aapne (You have conveyed a lot in just 4 lines)
Gautam Adani-led Indian conglomerate has been thrown into turmoil following allegations of accounting fraud on January 24 by US short-seller Hindenburg Research. In its 100-page report, Hindenburg announced that it had taken a short position in Gautam Adani's companies through US-traded bonds and non-Indian-traded derivatives.
Following this, shares of Adani group firms saw a massive sell-off. In fact, in just over a weeks time, the company lost over $100 billion.
Amid the uproar, many experts and even the government cited that one single incident does not represent the entire market.
Finance minister Nirmala Sitharaman defended India's financial sector stating that it is ‘very well regulated’ and referring to the recent controversy around the Indian conglomerate she added, ‘one instance, no matter how much it is talked about globally, is not going to be indicative of how well Indian financial markets have been governed’.
Sitharaman said, "India remains as before, absolutely well-governed with a stable government and a well-regulated financial market. As a result, the investor confidence which existed before shall continue even now. Our regulators are normally very stringent about certain governance practices. One instance should not be going to be indicative."
