Goenka warns investors of severe losses, says 'Harshad Mehta-era scams are back'

Industrialist Harsh Goenka raised concerns that malpractices of Harshad Mehta and Ketan Parekh-era are back, primarily in Kolkata, amid rallying stock market. He also warned retail investors of severe losses, urging Finance Ministry and SEBI to investigate. "Promoters are inflating profits...and in nexus with Gujarati-Marwari brokers, driving their stock prices to unrealistic levels," he claimed.