Way back in August,I had blogged about the nonsensical research reports put out by brokerages.
One of them was a Buy Call on DLF by Macquarie with a price target of 250.Subsequently, the Robert Vadra scam has burst and the company is in the news for all the wrong reasons.
At that time, I had written
Can DLF hit 250 in the short term?Sure, in the Indian stock markets, anything is possible.But is it the kind of stock that one expects a reputed brokerage house to recommend for “investing”?Hell, no !!