The Sheth brothers-Bharat Sheth and Ravi Sheth-are the promoters of GE Shipping.
Collectively, they own around 38 Lakh shares of Financial Technologies -around 8.24% of the company.
Today, Financial Tech crashed by an astounding 66%, a loss of Rs.356 per share due to rumours of a payment crisis at NSEL
This resulted in the Sheth brothers losing 135 Crores in a single day’s trading session.
Perhaps the oceans of the world are less stormy than India’s financial markets !
[gview file=”https://alphaideas.in/wp-content/uploads/2013/08/hclt-q4-2013-amj13-ir_release.pdf”]
Some stuff that I am reading today morning:
India cuts forecast (WSJ)
National Spot Exchange suspends trading amid fears of default (ET)
IBM sacks staff in India for overstating revenue (Mint)
Interest rate cycle makes a U-Turn (BS)
Transcript of RBI Governor’s post policy conference call (RBI)
Facing despair (ValueInvestorIndia)
If corporate logos were honest (BigPicture)
My new favorite chart (TRB)
When Titan went the Titanic way (Altais)
Everything you ever need to know about house rent and income tax (Anand)
This post is in continuation of my 5 stocks series (see here)
10 Stocks which multiplied wealth for investors in the last 5 years:
| Symbol | Close on 31 July 2008 | Close on 31 July 2013 | Times Multibagger |
| KAJARIACER | 34.05 | 240.9 | 7.07 |
| GSKCONS | 643 | 4671.95 | 7.27 |
| SHREECEM | 593.55 | 4354.75 | 7.34 |
| NATCOPHARM | 72.85 | 607.1 | 8.33 |
| VGUARD | 55.85 | 530.15 | 9.49 |
| PAGEIND | 447.9 | 4375.1 | 9.77 |
| AJANTPHARM | 81.85 | 939.25 | 11.48 |
| EICHERMOT | 271.95 | 3489.25 | 12.83 |
| LAOPALA | 23.65 | 415.8 | 17.58 |
| TTKPRESTIG | 115.05 | 3616.15 | 31.43 |