, Columnist
Insiders Do More Than Trade in India
The country's financial markets aren't set up to protect ordinary investors.
The markets' run is a rare good-news story.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
In India, you don’t really exist till you’re on the right WhatsApp groups. It’s on those private chat rooms that political campaigns are sharpest; where India’s sprawling extended families quarrel and make decisions; and, according to a recent Reuters investigation, where company quarterly results are predicted with surprising prescience. There’s no proof of insider trading yet, but officials from the Securities and Exchange Board of India, or Sebi -- India’s market regulator -- told the Economic Times that they were looking into the reports.