Reading “Careers -- Inspiring success stories” (MoneyLIFE, 6 December 2007), let me say that success is not always about the ability to draw a line of demarcation between principles and a practical approach. If one understands and takes the right decisions, I think anyone can be successful in life -- it may be politics, business, profession, service or even on the home front. This is difficult but not impossible. It is only one’s experience, education (knowledge), understanding of human psychology and intuition that helps and guides where to draw this line. Further, one may be direct, blunt and fearless. But many a time, it is advisable to be indirect and tactful. In business/profession, one should be dear to all but should not allow easy access to everyone. As a rule, avoid being rude. A balance must be maintained depending on the circumstances and the need. Temper must be controlled in all situations. To reach the top, one would have to develop one’s own style.

Mahesh Kapasi, B-49, Gulmohar Park, New Delhi 110 049


I have been reading MoneyLIFE since November 2006. It would be great if you could mention the scrip price/date when you are analysing a particular stock. The market-cap to operating sales and operating profit ratios doesn’t give the exact price of the stock at the time of the analysis. This would help the reader to figure out whether the stock has moved up or down at the time of reading.

C. Raghukumar, by email


I am a regular reader and a subscriber of MoneyLIFE and I am more interested in your stock picks which have done better than many funds. I would be delighted if you would provide us with the current market price (CMP) of the stock at the time of your recommendation. It is very difficult to judge at what price you are recommending these stocks, as the magazine hits the stalls on different dates in different parts of the country and there is also some time lag between when it reaches the stalls and subscribers. Since I have observed that stocks normally zoom after your recommendation, I would be more than happy if you could provide us with the CMP and the chart of the stock. Also, most of your analyses are based on ratios such as market-cap to sales and market-cap to profit. It will be helpful if you would also provide the significance of these ratios for novice investors like me. Wishing you and your magazine great success ahead.

Amol Solunke, Pune, by email


I was very excited by the current issue of MoneyLIFE. Besides more information on Nitin Fire and Webel, you had given me two de-merger stories. One of them is English India Clays and other is Balkrishna Industries. In the case of Balkrishna, there is nothing to worry about company quality, management quality, etc. My relationship manager at Dawnayday Securities told me about English India Clays some months ago. But I did not find any material on it. It seems that you have been reading my mind and came out with just what I wanted. In my last mail, I mentioned that I was expecting some Diwali picks from you. I think in this issue, you have done it. Also, many of your current stories (Nitin, Webel, BSEL) are good defensive picks against high crude prices. I have been accumulating Nitin Fire for the past few months. I found it cheaper compared to Everest Kanto. Other partners in the same company are the big boys of the industry. You wrote that it manufactures large-diameter cylinders where margins are higher. Thanks. Experienced management and the Iranian order will make this as next blue chip.
BSEL is one stock where there are concerns about the quality of management. But you have mentioned that Clearwater has entered its joint venture. That’s great. When the main issue regarding the company’s transparency vanishes, valuations will rise. For lack of space, I cannot comment on all the stocks you have discussed, but it is a great, great issue.
Regarding MMTC, why does the rule about 25% public holding not apply to government companies? I like your comment on what the government should do with the money raised by divesting 10% to public. My boss exited from the market on reports about terrorist funds entering the Indian stock market and lost a big opportunity.

Santosh Mhamunkar, Mumbai, by email


This is the second issue of MoneyLIFE which I bought from a news stand. I find the contents very interesting, crisp and easily understandable -- no unnecessary comments, jargon, etc. Keep it up. I fully agree with your views expressed in “Letter from the Editor”. By picking stocks on our own, even small retail investors can beat most of the fund managers. Stock-picking should be done after careful analysis of the genuineness of information and relating such information to the quality of management and fundamentals of the company. Time is well spent on such analysis because one can be sure of one’s decision and the target for the stock.

P. Unnikrishnan, Coimbatore, by email


In your column “Putting a Smile on Retail Investors” (MoneyLIFE, 22 November 2007) you have raised -- and given a solution -- on an issue which is very important for retail investors, especially in the present boom conditions. Our grateful thanks to MoneyLIFE for raising and highlighting the issue. We feel strongly that the interest earned on float funds should be deducted from issue expenses, as done by Infosys. This ought to become the notwithstanding the reduction or contemplated reduction in the time taken in the allotment process.
At our Investor Helpline (, we have received a large number of grievances relating to IPOs. Consequent to our intervention, most of the investors have got their refunds/allotments. But it appears that no interest has been paid for the delayed refund, although we do not have any hard information. We have received some complaints on this score. Now, we are asking investors to inform us whether interest for the delayed period (beyond 15 days) has been paid to them or not. Most likely, the answer would be in the negative in most cases. Till date, no investor has written to us about having received interest on delayed refund.

Virendra Jain, New Delhi, by email.

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