Virender Sehwag Shares Story About Staff's PSU Bank Stock Investment Gone Wrong — Post Now Deleted

Cricketer Virender Sehwag, in a now-deleted X post, said that one of his staff is now sitting on major losses after investing in PSU Banks.

What Happened: In the post shared on Thursday afternoon, Sehwag wrote that one of his staff got around ₹1 crore after selling an ancestral land and invested ₹80 lakh in stocks such as Canara Bank, Bank of Baroda and Union Bank on June 20. Sehwag said that this was a day after Prime Minister Narendra Modi tweeted on June 19 that PSU Banks hit “unbelievable highs”, citing a report by MyGovIndia on the comeback of PSU Banks.

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The ex-cricketer wrote that after 3 months even as the benchmark Nifty is up almost 10% and at all time high levels, the investment in the banks are down more than 20%. “Various thoughts come to his mind from whether govt data tweet was to trap him, whether to trust PSU banks as all his 3 stocks keep falling. He swears by Modiji but is unable to fathom them falling”. Sehwag wrote.

Sehwag also asked for expert advice on what to do as his staff is in panic as a major portion of his net worth is invested in the stocks. The cricketer has now deleted the tweet from his feed.

Canara Bank was trading at ₹121.20 on June 20 and was down 13.4% since then.

Bank of Baroda’s stock was trading at ₹285.20 on June 20 and shares are down 16.9% since then.

Shares of Union Bank of India was at ₹145.91 on June 20 and was down 15.77% since then.

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