That would be a bad move on investors’ part. What Nirav Modi did with his Rs 11,400 crore fraud, it shouldn’t have any cascading effect on hundreds of other jewelry businesses who are honest in their functioning. Boycotting the sector can potentially affect thousands of families. And that should never happen. It’s bad enough that a person, with political connections, looted the nation. Now punishing so many families for what he did, that is bad.
So my personal opinion is that investor community shouldn’t act emotionally. Yes, they must take a strong stand against such rich people-*****-scam artists to make sure such things never ever happen again, and if someone do it, they should be punished severely and not let go off to other countries to enjoy leisure.
In short, the investors shouldn’t boycott the jewelry sector. They must act sensibly! Besides if they are smart enough, they can make good profit of the current trends in the stock market, including in the Jewelry sector.