Showing posts from 2017

Back with a bang – Jignesh Shah

Jignesh Shah’s Financial Technologies India Limited (FTIL), now known as 63 moons technologies shares climbed to considerably higher prices today. The stock rose to a high of ₹ 82.55. The Bombay Stock Exchange (BSE) for which Shah worked earlier in his career holds a daily volume of 3.08 lakh shares. The company today witnessed a volume of almost 10 lakh - thrice the amount of the normal.
On the National Stock Exchange (NSE), however, the stock saw a high at ₹ 82.70. About 4.6 million shares have been noted on the NSE in this session so far in this season. After struggling for support post-Securities and Exchange Board of India (SEBI)’s order of impounding averted losses exceeding ₹ 125 crore, the stock touched a low of ₹53.80 in August. The Board had alleged 13 people for insider trading in MCX and its previous supporter FTIL. The accused included family members of Jignesh Shah for possession of price sensitive information regarding the National Spot Exchange Limited (NSEL) case. It p…

Jignesh Shah and the underbelly of NSEL conspiracy

Many stories go untold but unheard but fortunately the story of Jignesh Shah was given a voice. Shantanu Guha Ray is  a former Tehelka Journalist therefore we can understand that he is one of  the best at investigative journalism. He is also an active columnist some of the media organisations but finally he took upon to write the book to  tell the story. FTIL has been a part of controversies since 2012, but Shantanu Guha Ray has refused to  acknowledge the presented facts and did the investigation all by himself. Jignesh Shah says that he has wanted to  be a businessman for as long as he can remember.  Shah had made up his mind to start a business after growing up when he was at the age of 8 years . In an interview Shah says, ”‘I was very clear that I would do engineering, after which I would go to the US, complete my MS, work there and later start my own business.” Instead of travelling to the US for the popular choice of the time, a course in mechanical and electrical engineering, …