‘Scam 1992’ Is A Must-Watch For Share Market Stakeholders, Here Is Why
DWAIPAYAN REGMI
Directed by Hansal Mehta, ‘Scam 1992’ is a Hindi series with 10 episodes and a current talk of the time. This is a series adapted from the book ‘Scam’ written by journalist Sucheta Dalal and Debashish Bashu. It is currently the highest-rated Hindi language Indian web series on IMDb with a rating of 9.6 out of 10. This web series is not only gaining hype in India but throughout South Asia, as it explains a lot about the Bombay Stock Exchange.
Although the Bombay Stock Exchange has its long history, the state that they were going through back in the 1990s is no different than those of today’s share market across South Asia – be that Sri Lanka, Bhutan, Nepal, or other nations. Hence, it is gaining some space. Meanwhile, this scam is also mentioned in the MBA course in various Indian Universities.
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Scam 1992 is all about Harshad Mehta, a struggling person getting into the top through the secondary market and his entry over the money market. Though it is regarded scam, the series rather explains how he enters into the loophole of the system and makes his wealth. There had been other movies or series like – Gafla, Wolf of Wall Street, Big Short which explained the share market too; but this web series has its specialty. Here are the reasons explaining why Scam 1992 – The Harshad Mehta Story is a must-watch for Share market Stakeholders.
Big Investor Rules
Small Investors have been trying to dance over the steps designed by big investors. Big investors are the ones who determine where the market should head up at the next step, they are the ones who decide up bull and bear trend in the market to a larger extent. The wave of market trend might be influenced by the company’s situation or PESTEL environment, but the wave determined by big investors equally marks in the stock market. Wiser, if you go ahead with the flow.
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Insider Trading Influences
Scam 1992 not only explains how Insider Trading influences market practices but rather shows the picture explaining how insider trading cannot be entirely removed in the share market world. The influence of insider trading remains in the market one way or the other, and there exist people who leak the information anyway. The series further explains the impact of insider trading and how it can be seen in the market.
Loophole exists
Harshad Mehta’s action cannot be termed illegal directly. It was all a systematic fraud, where no one would lose anything – but everyone had to gain. After he figured out the loophole in the system, he entered into the loophole and earned from it. Though technologies have reduced such holes to a larger extent (for example- months of holding of funds while applying for IPO in Nepal), there could exist loopholes that could be out of anyone’s notice.
Partnership could be deadly
It is easy to start up a partnership, but hard to maintain it. The partnership is not a deal, but a feeling of equality too. While one partner is progressing, if the other one feels is not catching up the speed, could turn out to be deadly at any time. Here, we decide to take a partner at our ease at any moment; but what happens if we could not maintain integrity over it in the long run – is well explained in the web series Scam 1992.
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Media Shapes our Mind
Media has a strong role in society. Strong enough that no one ever thought of. This series is a perfect lesson for media as well, about how their reporting should be – it explains how media should go through the research and then come out with the story that would bring impact. Sucheta Dalal, the journalist never cared for views that she would receive, but went to create an impact on society. Meanwhile, it equally explains how the media sets society’s mindset.
Regulatory Body’s Role
The regulatory body is the one who has to look at all activities that are not being operated under the guidelines. If they cannot do it formally, there remain informal ways to sort out them; but unfair practices should be taken into high consideration. The role of RBI Governor in this series explains perfectly how the regulatory body should keenly watch over the activities that are being operated in the financial world of the nation.
So, feel free to watch the series, whether you are a beginner or a professional in the stock market. Everyone has something to gain from it.
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[Mr. Dwaipayan Regmi is currently working as the Assistant Manager in Rastriya Banijya Bank]
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