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No scam in market: Chidambaram
By agencies
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Friday, 23 September 2005, 19:30 IST
NEW DELHI: Finance Minister P Chidambaram today said there is no scam in the stock markets and no cause for worry. He however cautioned the investors and said they must exercise caution while venturing into the stock markets at all times.
In an interview with a private TV channel, he brushed aside allegations that there was manipulation in the market, saying that the Indian stock markets were amongst the best regulated in the world and there was no need to worry.
"One has to ask, 'is the market well-regulated? Are P/E ratios in the comfort zone?' And I believe they are," he said denying that Prime Minister Manmohan Singh had been in touch with him over the stock market's movements.