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Top 10 – Best Stocks to Buy for Long Term in India 2021
| Sr. | Company Name | 1-Year Return |
|---|---|---|
| 1 | Alkem Laboratories Limited | 46.86\% |
| 2 | Housing Development Finance Corporation Limited | 43.18\% |
| 3 | Sundaram Finance Limited | 85.45\% |
| 4 | ACC Limited | 47.96\% |
Which stock is manipulated by Harshad Mehta?
The Bombay Stock shares resorted to records tampering in the trading system. It caused panic with the public and banks were severely impacted. Banks like Standard Chartered and ANZ Grindlays were implicated in the scam for bank receipt forgery and transfer of money into Mehta’s personal account.
What is the best stock to buy right now in India?
Stocks to Buy Today: Best Shares to Buy in India
| Name | LTP | High |
|---|---|---|
| Axis Bank | 688.05 | 692 |
| B P C L | 396.95 | 398 |
| Bajaj Auto | 3,344.75 | 3,364 |
| Bajaj Finance | 7,452.50 | 7,467 |
Who is Harshad Mehta?
Harshad Mehta was born in Gujrat and his father was a small business owner. Before entering into the stock markets, he was doing odd jobs and after a few years, he became a stockbroker. During the early ’90s, people started to call him the “Big Bull” of the Indian stock market.
Inspite of this ACC is one of the major player in Cement sector Harshad Mehta have manipulated the share price of ACC by using his value theory. He convinced his clients to invest in ACC by saying that company management have undervalued its business. In early 90’s the share price of ACC was prevailing at Rs 200/ share in the market.
Why did the Indian stock market crash in 1992?
In the year 1992, the Indian stock market crash due to Harshad Mehta scam. Before the scam hits on Dalal Street, Indian major and only one Indices SENSEX were trading above 2000 level at the end of January 1992. At the end of February 1992 SENSEX were trading above 3000 levels, that is 50\% return within one month.
How did Mehta get money from the banks?
Mehta approaches the Bank of Karad (BOK) and the Mumbai Mercantile Co-operative Bank (MCB) that could issue fake Bank Receipts. He uses those fake BRs and sell them to other banks and the banks in returns gave money to him. The banks actually assume that they were lending money to Mehta against government securities.