Novices get knickers in twist over “insider info”
It is well known that novices have the bad habit of reacting first and thinking later. They blurt out the first thing that comes to their mind with no regard for the stature of the person that they are referring to or his or her achievements in life.
The HDFC Standard Life Insurance IPO debuted on the bourses on the same day that Moody’s announced the rating upgrade.
In the euphoria that followed, HDFC Life surged like a rocket and tripped the upper circuit.
When someone asked Deepak Parikh how he got his timing so perfect, he replied in a deadpan manner that he knew the rating was coming and timed the listing of the IPO accordingly.
— BTVI Live (@BTVI) November 17, 2017
That casual remark was enough to send the novices into frenzy. They made all sorts of reckless allegations, including that they would complain to SEBI.
I have launched complaint against HDFC chairman with SEBI. I request everybody to launch complaint with SEBI related to above video.
— ARVIND JANARDAN MUGAL (@ArvindMugal) November 18, 2017
If the insiders, corrupt and criminals knew and plan their trade or position accordingly, Where’s the transparency?
The statement is a slap on SEBIs face.
He actually meant “Hum ko patha tha, Kya ukhad lega ukhadle!!”
— Janardhana Balaji (@RJbalaZ) November 17, 2017
Sebi the sleeping dog caught sleeping…big fish will continue to manipulate…who dare to catch the siut boot person
— Dipakmevawala (@dipakmevawala) November 17, 2017
Never expect such mischief by reputed and we'll established institution and it's mentor. people want investigation by @SEBI_India
— BISHAN DIXIT (@bishan_dixit) November 17, 2017
The surprising aspect is that even a luminary like N. Jayakumar of Prime Securities did not see the humor and claimed he was “aghast”.
He actually said that ??? Aghast, if that's indeed the case…… pic.twitter.com/MDDLu5ndlX
— n jayakumar (@jakesprime) November 17, 2017
Naturally, the buffoonery amongst the luminaries and the novices irked Samir Arora.
“Why are we not able to get the humor?” he asked in a testy tone.
Why are we not able to get the humor? https://t.co/g63Zk5nKtY
— Samir Arora (@Iamsamirarora) November 17, 2017
sir common sense is so uncommon these days. don't expect it from fools 😉
— Pragnesh Patel (@pragneshcs) November 17, 2017
These morons don’t get the humour .#deepakparekh was just bein cheeky.. see d full video
— Gurmeet Chadha (@connectgurmeet) November 18, 2017
In fact such was the storm created that the veteran visionary was forced to put the record straight.
“My comments were on a lighter note … Our listing of HDFC Life was today, so it was a coincidence that this report came out last night. We were very lucky this report came out on the day of the listing. For HDFC, we hope that the next round of borrowings would be cheaper. It will give us some basis points’ advantage on borrowings,” he said, vowing to never make light-hearted statements again.
From NAMO Baiter to NAMO Bhakt
Old timers will recall the time when Deepak Parekh had joined hands with Jim Rogers to trash NAMO and his policies.
“Cleaning toilets is wonderful, but as far as building the economy or changing India (goes), he has not done very much,” Jim Rogers said in a contemptuous tone.
Deepak Parekh matched him word for word.
“Nothing has changed in the Modi Raj … after nine months, there is a little bit of impatience creeping in as to why no changes are happening and why this is taking so long having effect on the ground,” he said.
This gave junkyard politicians like Sanjay Jha of Congress the much awaited opportunity to malign NAMO.
So Jim Rogers, big-time hedge fund investor sells stock and exits India! Modi Sarkar, whatever happened? Alarm bells!http://t.co/B3FqaPIrbf
— Sanjay Jha (@JhaSanjay) September 3, 2015
Of course, Jim Rogers was contrite when he realized that he was wrong about NAMO.
“I am amazed, shocked and stunned on GST ….If Modi continues doing stuff like GST, then not just me, everybody has to pay a lot more attention to India,” he said.
He was also rueful about his premature sale of Indian stocks and the loss of multibagger gains.
“I believed that Modi did nothing but talk, hence I sold out of India. The currency and Indian markets have gone up quite a bit after I sold out,” he said, tears welling in his eyes at his own buffoonery.
Deepak Parekh has also now turned around and is heaping rich praise on NAMO.
“Modi’s transformational reforms are behind Moody’s credit rating upgrade,” the veteran visionary said with a big smile on his lips.
“The rating gives a good signal that India is doing well, and that India’s credibility in the global financial market is improving. Basically, it endorses the government’s economic policies, and the progress made in implementing these policies. This is also the first time we have got a Baa2 rating, which is a big milestone,” he added.
He also described the great PSU bank recapitalization as a “great move”.
— asmakhan pathan (@PathanAsmakhan) October 31, 2017
The visionary also gave NAMO and Arun Jaitley full marks for the GST implementation.
He explained that the entire exercise of combining multiple taxes was a “hugely complex exercise” and that it was remarkable that it was achieved after 17 years. He also complimented the GST Council for its proactive approach of addressing the problems of the citizens.
— ET NOW (@ETNOWlive) November 17, 2017
He also opined that Q1 was an aberration for the GDP and that Q2 and Q3 will be “bumper quarters”. India will soon return to 7.5% he assured.
But why are some FIIs courting Rahul Gandhi?
One aspect that is baffling is that some FIIs are openly courting Rahul Gandhi.
Met with a group of FIIs from different countries. We discussed the political and economic challenges India faces and ways to overcome them. pic.twitter.com/5gHYbQMGuk
— Office of RG (@OfficeOfRG) November 15, 2017
Rahul Gandhi has been in the news for making buffoonery statements. He claimed that GST will “break the backbone” of the Country even though his own party supported its passage through Parliament.
He also courted controversy by trying to mock NAMO over an “aloo to sona” machine. The joke backfired because most citizens thought that the concept of turning potatoes to gold was his own and wondered if he had gone bonkers.
— #GauravPradhan ?? (@DrGPradhan) November 14, 2017
Prima facie, Rahul Gandhi appears incapable of strategic thinking and does not inspire much confidence.
So, the question of him discussing “political and economic challenges India faces and ways to overcome them” with the FIIs appears quite far-fetched.
Porinju Veliyath mocked the FIIs for being “misinformed” about India and selling stocks.
Now you know which FIIs were misinformed about India & been selling Indian stocks since last year? https://t.co/kzZh4LhLDx
— Porinju Veliyath (@porinju) November 15, 2017
However, one of his followers pointed out that the FIIs may have been attempting to drill sense into Rahul Gandhi that he should abandon buffoonery and become a credible opposition so as to ensure that NAMO does not stray from the path of progress.
If that is indeed the perspective from which the FIIs are meeting RaGa then we have to compliment them for their sagacity!