This is article is based on a media report and investor should always take informed decision in their own interest as everyone has self-interest there is no free meal in this world.
Last few months Big Bull of Indian stock market was on Media talking about his investment freely to public and saying how investor should invest and believe in India’s long term story. ET in Heard on Street reported that Big bull has booked partial profit in VIPINDUSTRIES which moved up on hype created by Media on Big Bull investment in the stock. While the said investment was made in 2009 between Rs 57-164 as per the same report many investors would have got into the stock recently. Stock after making high of Rs.801 has reacted
http://prabhakar-views.blogspot.com/2010/04/big-bull-exits-mid-day-multimedia.html This is my earlier post where I said one should learn how to invest following the principles of BigBull but should avoid getting carried away. In Stock market person who makes profit is person who can understand his odds for which he has to take his own informed decision and then correct/review himself from time to time. Many times retail investor would fail to do this so best option before them is MF.
On 08/Oct/2010 I had some doubt and informed my clients (I am a paid Corporate analyst)
A.K.Prabhakar (08/10/2010 12:26:55 PM): VIPINDUST Cracking has BIGB downloaded his stocks to investors http://prabhakar-views.blogspot.com/2010/04/big-bull-exits-mid-day-multimedia.html
A.K.Prabhakar (08/10/2010 12:34:32 PM): VIPIND is looking weak-Many times i fear Big Bull coming to media only near peak to talk openly about their stock- when they buy around Rs.--- they market around 400-500 only to retailers
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Heard-on-the-Street-Jhunjhunwala-seen-part-selling-VIP-stake/articleshow/6796247.cms Heard on the Street: Jhunjhunwala seen part-selling VIP stake - With the broader market struggling for direction, quite a few mid-cap stocks that were flying high till a couple of weeks ago have come under pressure. Luggage maker VIP Industries is one of them. On Friday, the shares extended their losing streak to the fourth straight session, closing at Rs 625.90, down 0.5% over the previous close. The stock is now down 22% from its record high of Rs 801 seen less than three weeks ago. The market buzz is that leading proprietary investor Rakesh Jhunjhunwala , who held a little under 6% of VIP’s equity, according to the company’s shareholding details for the June quarter, has offloaded a part of his holdings.
When contacted Mr Jhunjhunwala declined to comment, citing a policy of not talking about his trades. The shareholding disclosures of the company reveal that Mr Jhunjhunwala had picked up a 4.47% stake in the company in the July-September quarter of 2009, when the share price had ranged between Rs 57-164. He then added another 1.34% in June this year. The company’s revenues (Rs 146.2 crore) and net profit (Rs 6.7 crore) for the July-September quarter rose 23% and 100% respectively, on a year-on-year basis, but declined sequentially, given the seasonal nature of the business. The company’s earning per share for the half year-ended September is Rs 14.40, compared with Rs 17.70 for the whole of financial year 2009-10. Brokers tracking the stock say that high net worth individuals were the biggest buyers of the stock, when it was on a tear till a few weeks back.
