Will there will be a repeat of 2008 in 2018 ,God forbid.People who had some interest and link in the financial markets , or even just academic interest ,will never forget 2008 January. That was when the Indian stock market faced the heaviest crash ever. The downward journey started from then. Thousands of small and large investors lost heavily. Many of them could not recover from that shock. Lives of many changed from that. Many will never reveal the truth. They had to silently suffer the trauma.
The main trigger was the Reliance Power share. People had unrealistic faith in Reliance (both brothers ) then. They were making many new initiatives in the market and industrial scene and investments. People were waiting for miracles to happen with the Midas touch. However the answer a cruel crash. The ultimate losers were only the innocent people.
I am afraid what happened to the financial markets then may happen to the telecom sector. God forbid. Elder od the Ambani brothers brought Jio and we all know what impact it has caused in the industry. The public welcomed that with all their hands expecting a lot. Again they were feeling about a Midas touch. But soon following is the R Com ( led by younger Ambani) crash and collapse. Rcom has almost shut shop. They owe the banks about forty three lakh crores or so if we go by reports. Thousands of mobile users of Rcom are left i the lurch. Many have lost their prepaid balances. Network is shut without notice. In the panic many are porting to Jio. I pray it should not be a fall from the pan to the fire. God forbid. Let not what happened to stock markets in 2008 happen to telecom in 2018.