At the time of writing this piece, the Sensex stands at 20,687. From as early as mid-October 2007 to November 2007, we have been warning in MoneyLIFE that a temporary peak in the indices had been reached and that investors should be bracing for a major correction. We had suggested a downside target of 17,000-17,500. This warning had been tempered with the reassurance that the primary...
Motivated Negativity?
SEBI’s no entry load on direct investment enthuses few - went a Times of India headline in the first week on January. It referred to Securities and Exchange Board of India’s (SEBI) touted New Year gift to investors directing mutual funds not to charge the 2.5% entry load to those applying directly to schemes instead of going through a distributor.
Less than a week...
The 4 on 5 grading for Reliance Power (RPL) raised so many questions that CRISIL was forced to hold a quick teleconference to provide answers. RPL is all about Anil Ambani’s promise to set up an extraordinary 28 projects in the next 10 years. What did CRISIL have to say? In a nutshell, it said that grading was a subjective exercise and the grading committee was convinced of the company’s...
