Zee Business has shed light on a deceptive market phenomenon known as ‘Operation Farzi Bull Run’, revealing intricate market manipulation tactics in India’s public sector undertaking (PSU) stocks.

In recent times, India’s stock market has witnessed a surge, leaving both institutional and retail investors optimistic about a bullish trend. However, Zee Business’s in-depth analysis conducted by Anil Singhvi, the Managing Editor, has exposed an unsettling reality behind this trend, a press release from the business TV channel said.

Singhvi’s extensive investigation has scrutinized the inexplicable price surges in certain underperforming PSU stocks, resulting in substantial restrictions being imposed on these shares.

Particularly, the mid-cap and small-cap sectors have seen significant growth over the last six months. Selected PSU stocks have experienced remarkable upswings, ranging from 100 percent to an astounding 300 percent within a mere three months. Yet, many of these stocks raise concerns due to their weak underlying fundamentals.

Key findings of ‘Operation Farzi Bull Run’ include:

Dubious Price Surges: The operation uncovered a systematic manipulation scheme wherein select groups of investors orchestrated price hikes in government-owned shares that were already struggling.

Low Public Shareholding and Market Manipulation: Singhvi revealed that the government holds a substantial 90 percent stake in state-owned companies where such manipulative activities occur. The remaining one percent to 10 percent of shares are actively traded on the stock market.

Influential market participants and investors exploited the low share prices to accumulate substantial quantities, ultimately influencing prices to attract smaller investors with promises of lucrative returns.

Unmasking the Deception: The special report on ‘Operation Farzi Bull Run’ exposed the fraudulent tactics employed by prominent investors behind this deception.

As a result of this investigation, a sharp correction of up to 10 percent was observed in these stocks.

Singhvi emphasized the impact of ‘Operation Farzi Bull Run,’ stating, “At Zee Business, we’re committed to ensuring financial markets are transparent and honest. We initiated ‘Operation Farzi Bull Run’ to protect investors. The stock market’s current dynamics are captivating, but appearances can be deceiving. Investors must exercise prudence and conduct thorough research.”

Madhu Soman, CBO of Zee Business and WION, added in a statement, “Our investigative programming reflects our pledge to inform, protect, and empower investors. ‘Operation Farzi Bull Run’ illustrates the real-world impact we aim to achieve. Fostering transparency and trust benefits our viewers and strengthens the financial landscape’s integrity.”