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Predictive messages about Indian cos results circulate in WhatsApp groups

A message circulated to a private WhatsApp group saying the Indian drugmaker, Dr Reddy's would not post good numbers

Reuters  |  MUMBAI 

By Rafael Nam MUMBAI (Reuters) - Three days before Dr. Reddy's Laboratories Ltd announced quarterly results this summer, a message circulated on a private WhatsApp group saying the Indian drugmaker would not post good numbers. Dr. Reddy's was going to report a loss, according to the message on the "Market Chatter" group, which was posted on July 24 from a mobile phone number that Reuters traced back to Nishant Vass, an auto analyst at ICICI Securities, a leading Indian brokerage. The WhatsApp group had 45 members, mostly traders. The loss would have been a ...

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First Published: Tue, November 21 2017. 21:09 IST