We are replacing three stocks from our long-term Stockgrader. Here is a review
Gainers
Among our list of 86 stocks, the best performance came from Punjab Chemicals & Crop Protection in the past fortnight. It was up 15%, buoyed by talks of an increase in fertiliser subsidy by the government. Agro Dutch Industries, a small stock that may turn out to be a big winner, rose 8%. Monnet Ispat was...
In early April, when MoneyLIFE interviewed CB Bhave, chairman of the Securities and Exchange Board of India (SEBI), one of our questions was about his decision to remove first-day price bands after stocks are listed or re-listed. That decision was based primarily on the English Indian Clays (EIC) case, which MoneyLIFE had followed with some persistence. EIC’s stock had dived from Rs1,690 on...
In the same interview, we asked Mr Bhave about the fate of two companies, Shyam Tele and SVPCL, whose shares were denied listing by the stock exchanges as well as SEBI after a corporate action after in-principle permission to list had already been granted. The refusal of listing permission affects companies far less than it affects investors; and both have moved court against SEBI’s order to...
