Sanjeev Bhasin is one of the most famous and experienced stock market experts in the country. Former IIFL Securities Director Bhasin was known for his stock recommendation on TV channels, Telegram and social media. He has also played an important role in big institutions like Dutash Bank and HB Group. Also, he also created a model portfolio for retail investors on platforms like Smallcash.
Why did SEBI ban?
Sebi’s investigation has revealed that Sanjeev Bhasin used to give a bi order in his own account, Gemini portfolio, Venus portfolio and HB stock holdings just before his public recommendation. Then when the price of the stock increased with their ‘BUY’ call, they used to make profit by selling the same stock. Meaning it is clear, who asked the public to buy, he sold quietly. SEBI has banned him for this ‘fraud’ and ordered to return illegal earnings of about Rs 11.37 crore.
The beginning of education and career
Sanjeev Bhasin, who studied at Sriram College of Commerce (SRCC) of Delhi University, passed the Chartered Accountancy and also did LLB for two years, although it did not complete it. In 1985, he entered the stock market world and lived in the region for 33 years.
What was his investment strategy?
Bhasin’s strategy was always to invest 50-55 percent of the money in big and reliable shares and he kept 30 percent of the money in cash, so that he could trading as soon as possible when the opportunity comes. In the early days, he made good profits by investing in multinational companies like Glaxo.