Friction #13: The conundrum of stock recommendations

On 13 January, a first-of-its-kind event took place. Markets regulator Securities and Exchange Board of India took action against a TV anchor for allegedly indulging in fraudulent trades based on advance information. 

Hemant Ghai, host of multiple shows on Hindi business channel CNBC Awaaz, was barred from the securities market and directed to stop giving investment advice or making stock recommendations till further notice. 

Ghai is accused of “front running”, i.e., trading in stocks based on insider knowledge of a future transaction that will affect their price. His mother and wife are alleged to have synchronized a large number of …


Jayshree P. Upadhyay

Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.