Ketan Parekh - As one of the most influential players in the Indian stock market, Ketan Parekhis a name that needs no introduction. What you know about him, however, is far from the entire truth. In the 1980s, Ketan began his career assisting his father and uncles at Narbheram Harakchand Securities, a brokerage firm established by his grandfather in pre-Independence India.
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With his ease with numbers, meticulous approach, and hardworking nature, Ketan rapidly carved a niche for himself in the Indian stock market. Not only did he become an expert trader, his attention to detail and familiarity with the intricacies of the market meant that he soon earned the moniker of “ITC Bull” for his ability to consistently and accurately predict the trading pattern of ITC.
Growing up, Ketan’s father was his role model and his introduction to the world of trading. His father was known to be a decisive “jobber”, someone who is a market maker, giving bids and offers of particular securities to boost market liquidity. His skill and understanding of the market inspired Ketan Parekh to be the best in his field.
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However, unlike his father, Ketan was a risk-taker, willing to bet on the opportunities presented by newer ventures. The software and telecom companies of the late 1990s and early 2000s presented one such opportunity. Ketan put a considerable amount of time into studying the companies and understanding their plans and prospects. He identified growth opportunities and worked with financial institutions and high-net-worth individuals across India to take companies globally and help them raise funds to become debt free.
In 2001, ICE (infotech, communications, and entertainment) stocks took a savage global bear hammering and turned the tide on his fortunes. Ketan was trapped, triggering off a payment crisis on the bourses, and forced to default on his payment obligations to banks.