India Stock Slide Sparked by Panic, Margin Calls, Prabhudas Says
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Apurva Shah, head of research at Prabhudas Lilladher Pvt., a Mumbai-based brokerage, comments on today’s decline in India’s stock markets. He spoke in a phone interview.
India’s federal investigating agency arrested LIC Housing Finance Ltd. Chief Executive Officer Ramachandran R. Nair on Nov. 24. It also arrested seven bank and brokerage officials, including Rajesh Sharma, chairman of the Mumbai-based securities firm Money Matters Financial Services Ltd., following a probe into bribes and improper loan disbursals.