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Why the market went down
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Linkfest: September 15,2016
Some stuff I am reading today morning:
Is HDFC Mutual Fund screwing its investors? (Vipin)
India lays foundation for a Fintech revolution (Reuters)
Is Infosys facing a leadership crisis? (Mint)
Stock investing is not only about buying the right stock (S Naren)
Oyo Rooms loses around 47 Cr per month (FE)
Soured DoCoMo deal tests India’s investment appeal (Bloomberg)
Investing in an IPO?Go with the institutions (BL)
My lessons from Mutual Fund investing (FreeFinCal)
The John Bogle expected return formula (CS)
3 Lessons from Buffett’s bet against hedge funds (Morningstar)
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Current Market Situation
Current situation of the market probably says
' When kids come to dance floor, it's time for elders to go to bed '.— Vijay Kedia (@VijayKedia1) September 8, 2016
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Gujju Power
Note: Ghatkopar is a suburb in Mumbai mostly populated by Gujarathis.
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The naughty naughty Mr.Naik
The IPO of L&T Technology Services Ltd is currently underway.
Investors who invested in the IPO of L&T Infotech Ltd earlier this year burnt their fingers as now the scrip is quoting below the issue price.
Perhaps considering the dampened investor sentiment in mind,L&T Chairman Naik is doing his best to talk up the prospects of L&T Tech.
In an interview to ET, he says
“The revenues now stands at about $470 million as of last year. We have grown past $525 million this year. We believe we will double this in the next five years. That is what our plan is. We will make some acquisition to aid us in technological development — things like digital and Internet of Things. “
Now as per SEBI guidelines,Managements are not supposed to provide forward looking statements and even if they do,they have to make a note of it in the DRHP
Now the DRHP of L&T Tech has no mention of this doubling of revenues.
So is Mr.Naik living in an alternative universe where only L&T anthem gets played and SEBI rules don’t apply?
Or is he just being a naughty old man?