Today NCC Ltd touched Rs.83, but what is the News? I do not think there is anything, worth talking about, except that a big Bull is holding the shares of the company. Some days back a well know Bombay based equity analyst wrote in a Financial Weekly:
"Despite dismal results for H1, analysts and market men continue to recommend to buy NCC Ltd only because big bull is also one of the shareholders of the company".On a consolidated basis, NCC has posted a loss of Rs.3.16 crore for the second quarter this year against a loss of Rs.10.19 crore in the same period last year. Revenues during the period stood at Rs. 2,571.57 crore (Rs.1,706.79 crore). During the first half, NCC posted a loss of Rs.23.68 crore with revenues of Rs.4,400.11 crore against a loss of Rs.4.39 crore and revenues of Rs.3,345.67 crore.
These days, there is no need of any fundamentals for a scrip to move up. What one has to do is to bring some marketmen in front of Television cameras and make them SHOUT: BUY!! BUY!! BUY or SELL!! SELL!! SELL!! The scrip will move up or go down--main aim is to create positive or negative sentiment around a counter. You look at the track record of those marksmen whom you see everyday on your Television Channel/s and see how they change their views so often. And then compare, their views with me. You will then understand what is the real GAME (going on)!! What the 24x7 Business Channels have done is to turn everyone into a day trader; which is most unfortunate. These days it is becoming very hard to find long term investors, which we used to see in 1990 or even during 2002-07 period. Now, it seems most wants to buy building materials and see their houses being erected on the same day--there is no time.....Huh!! Also, on what capacity, the stocks are being recommended randomly on Television Channels in the name of "Game" or "Competition"--this is the biggest manipulation done, and should be stopped immediately.
Jaiprakash Power Ventures Ltd (Rs.12.95), should be accumulated on all declines, inspite of what all those TV-analysts say (positive or negative). The scrip has a great future and is from the reputed J P Group.
As of now the mid-cap index is down 82.15 points as against 29.45 points of Nifty. But the irony is that many mid-caps are undervalued as compared to the large caps. Hence, theoretically speaking the money should have moved out from a section of the large caps and have entered in this space--but we are witnessing just the opposite. Why? One reason is: Stock Market Education among the Indians (traders/investors), is very low/poor. Hence, most traders will probably do what those sitting in front of the cameras would advises them....this is the real irony. The real fat is that: Most Indians, want to make money, but do not want do research.