One of the open secrets of the fund management business is the desire for stocks to have high prices at the year-end as this is used for measuring fund performance and hence the bonuses of the fund managers
Gokaldas Exports, which is approximately 40% owned by Blackstone, offers an amusing lesson
Yesterday, they made an announcement to the Stock Exchanges that they have uploaded a “Management Presentation” on their website.
The deck had this very interesting slide on Q4 revenues/profits…this on the last few days of Q4
The net result is that the stock has hit the upper circuit today.