Scare of “anti-India forces gaining momentum” sends Nifty plunging
Today morning, I was as usual loitering outside Shyam’s Tea Stall along with other punters. We were sipping kadak adrak chai and gossiping.
Shyam’s Tea Stall is the nerve centre of Dalal Street. It provides a vantage point to observe all the goings-on.
Suddenly, a blood curdling sound pierced the air.
“UN-FREAKING-BELIEVABLE!”
I was startled and almost spilt the tea on my shirt. Shyam bhai glared at me with a disapproving look.
It was none other than Mubina Kapasi, the charming journalist with ET Now.
The excitement of the Gujarat elections and NAMO’s imminent defeat at the hands of RaGa had got to her.
UN-FREAKING-BELIEVABLE!
The BIG Gujarat thriller:
Congress actually has a slender lead over BJP in Modi's hometown!
Tally till now: BJP/Cong: 74/86
SGX SHARP downtick!— Mubina Kapasi (@MubinaKapasi) December 18, 2017
“Moral of the story: Dont mess with the dhanda of the Gujarati man!” Mubina added, signalling that it was the end game for NAMO.
Moral of the story: Dont mess with the dhanda of the Gujarati man!
— Mubina Kapasi (@MubinaKapasi) December 18, 2017
Sonia Shenoy, her charming counterpart in CNBC TV18, was equally excited though she kept a poker face.
BJP 87, Congress 81
far from the seat count achieved by BJP in 2012 ….. https://t.co/SYXdLF9o3A— Sonia Shenoy (@_soniashenoy) December 18, 2017
Porinju was not amused at the unexpected turn of events. Instead, he was enraged. He attributed NAMO’s poor performance and the consequent plunge in the Nifty to “scare of anti-India forces gaining momentum”.
However, he still kept a stiff upper lip and assured his followers that “the course of Changing India won’t be altered that easily” even if the “anti-India” forces come to power.
INDIA's Nifty down 250 points on the scare of anti-India forces gaining momentum! I feel it's just another opportunity for investors, the course of #ChangingIndia won't be altered that easily.
— Porinju Veliyath (@porinju) December 18, 2017
Thankfully, thereafter the tide started to turn. NAMO began gaining a lead over RaGa slowly but steadily.
Everyone heaved a sigh of relief.
The Sensex took a dramatic u-turn. From a low of 650 points to which it had plunged, it roared back and surged a massive 340 points.
“Huge setback to anti-nationals, corrupt citizens, tax-evaders and Congis,” Porinju exclaimed, his famous smile back on his face even as the entire Dalal Street erupted in joy.
India's Nifty up 340 points from day's low; huge setback to anti-nationals, corrupt citizens, tax-evaders and Congis.
— Porinju Veliyath (@porinju) December 18, 2017
Only ‘monkeys’ will not buy stocks
At this stage, we have to compliment Porinju for his diligent attitude. While I and the other punters were aimlessly loitering around, Porinju was prowling outside Dalal Street, waiting for a buying opportunity.
It appears that he had anticipated that there could be a dramatic situation where the stocks could plunge and had come prepared with Rs. 30 crore of cash.
However, the sequence of events was too fast and Porinju couldn’t take full advantage of the plunge.
“One more thing, today I was sitting on some cash, and not because of elections. Nifty was down 250 points. Anybody who tried to buy today at the opening when the Nifty was 250 points down, will tell you the same thing. The shares were not available. The panic of some trading community was just showing in the price. Otherwise, especially in the good companies where there is no F&O position, one could not get shares. The quality midcaps were not available. I tried some five-six counters. Of course, we got some. I wanted to buy some Rs 20-30 crore worth shares, we could hardly got some 4-5 crores shares. This is the experience of anybody who are not monkeys and who tried to buy shares today morning,” Porinju told Ayesha Faridi with a rueful grin.
Citing KRBL as an example Porinju Veliyath (@porinju) talks about how one should look out for leaders in businesses.https://t.co/G5VftzNYz1 pic.twitter.com/x2uRJxFKvu
— BloombergQuint (@BloombergQuint) December 17, 2017
RaGa fought like ‘Rocky’, Gujarat is Ga Ga over him: Shankar Sharma
If Porinju is a NAMO Bhakt, Shankar Sharma is a Ma-Beta Bhakt.
On an earlier occasion, Shankar lauded RaGa for “stratospheric mental strength” and “amazing qualities of resolve and toughness”.
This time he equated RaGa with the legendary boxer ‘Rocky’ who ultimately triumphed after being knocked out several times by his opponents.
Aaj pata nahi kyun, Rocky 1 ki yaad aa rahi hai…..
— Shankar Sharma (@1shankarsharma) December 18, 2017
He also claimed that “Gujarat went GaGa over RaGa”.
Jo bhi bolo, aaj sar pe kafan baandh ke kehna banta hai: Gujarat went GaGa over RaGa
— Shankar Sharma (@1shankarsharma) December 18, 2017
Needless to say, both stalwarts had their share of opponents.
Some were not happy with Porinju’s characterization of voters as “anti-nationals”
Is people of Gujarat who voted against BJP are anti-nationals? Superb comment!
— rajesh puthenvettil (@contactrajeshp) December 18, 2017
So u mean to say that anybody who votes against BJP is anti national, to bad dear, I think u are against democracy then
— Mohamed Niaz (@kooloth) December 18, 2017
At the same time, some were not happy with Shankar’s “Ma-Beta ki Ghulami”.
Haha.., it’s funny after massive incumbency and stilll ending up a loser gives heart to congress supporters. You will be decimated again in 2019…?
— RAVI (@yuvi78) December 18, 2017
Sahi mein, Kya personality hai! Hai koi aur Jo apne Pappu se takkar le sake?
— यू पी का लौंडा (@indianwhale) December 18, 2017
Of course, while Porinju and Shankar may have their own strong personal opinions about their favourite leaders, we have to keep our focus only on stocks and not get embroiled in a political slug fest!
A crystal clear victory of Rahul Gandhi. Darkness will not come if we close our eyes.
For “Bhakths” it may be a rejoicing moment but the reality is different that one can witness in 2019
Rahul played it well by building ties with Hardik and others . It’s just that it worked because these guys were first timers .If people had similar experience like Yadav’s then the result would have been similar to UP. It’s a shame that Congress needs to tie up with people like lalu,akhilesh and hardik to win elections .It just shows how Congress as organisation has failed and just wants to win elections.Its quite crystal clear that Rahul cannot lead this country to new heights .I am happy that BJP did not take appeasement policy and stood against those. These appeasment policy has destroyed states like Tamilnadu.GST,Demo, Bankruptcy are good measures that will progress this country to new heights and not policy like reservations to gain votes of a particular community
I agreed with the end comment that we should focus on stocks and not political slugfest, but when I read your blind comment, I thought of replying you.
If you can think with your eyes and mind open, just look at with whom the holy BJP has alligned with! In Kashmir (the not so Anti-Nationals like Mehbooba and her PDP?), in North East (Manipur, Assam, Nagaland), In Bihar (with the same guy who was alligned with Lalu, who had torn down Modi during election campaign), in TN (courting with MK and OPS at the same time), in Karnataka (the mining mafia Reddys), and in many other states like Jharkhand, Chattisgarh and then generally a long list of Congressmen like ND Tiwari, SM Krishna!!!
All holy and sacred ties, indeed! When we close our eyes and mind of course.
as per porinj those who voted against BJP are antinationals!!!! ???
Self interest in financial world are supreme, so for any big invester continuity of Strong Govt is in self interest as Stock Market like that. More over who don’t want to avoid income tax raids and Modi Govt don’t think twice before doing that on his opponents. So don’t read patriotism in self interest. But there is nothing wrong in protecting self intrest. More over any set back to Modi Govt will result into crash in Third Grade Stocks which are trading well above their Fair Value . But for investors in Quality Stocks, in Long term, Modi or RaGa don’t matter. Indian Enterpenures will continue to perform irrespective of NDA or UPA, but any third front Govt dominated by regional leaders may not be good. So place your bets on business leaders and not on political leaders.
So you think it does not matter who the leader of the nation is and what the economic policy of the govt is .Then why have a govt at all.Just look at Singapore how one leader help them.tranform into what they are today.What could any great business leader do before 1991.We need to vote for the govt that’s performing and stating whoever comes doesn’t matter .This attitude of citizens should chnage. We live in a society and have responsibility of electing the right person.
SHANKAR HAS NO OBJECTIVITY IN PRAISING RA GA. HE IS PRAISING HIM ONLY BECAUSE HIS PARTY ALLOWED HIM TO ESCAPE OUT OF COUNTRY. NO RATIONAL ECONOMIC REASONS FOR PRAISING RA GA.
Porinju is going overboard no doubt – to an extent, that 69% of voters in 2014 who did not vote BJP are considered by him as Anti-Nationals. The greed for money blinds some people, indeed!
Well, let him live in a fool’s paradise. If in Gujarat, the strongest fort of Modi and Shah, if such an effort was needed by the party’s top to bottom cantonment bringing in everything in the world from Aurangzeb, Pakistan, calling the most noble ex-PM, ex-Army head as traitors and anti-nationals (except development), and if such a result has been achieved by Congress, then, well, I can only sympathise with guys like Porinju for the likely situation to arise in 2018 and 2019 – with an upbeat Cong likely to upset the misgoverning BJP states of Rajasthan, MP and Chattisgarh with a stronger anti-inccumbency, and holding onto its strength in Karnataka (not due to RaGa but due to its people friendly CM), the road to 2019 is uphill indeed, for the big and small investors.
Perhaps ManiShankar Aiyar has big investments through Porinju’s investment firm – thats why Mr Aiyar rocked RaGa’s boat at the last minute, so that the markets wouldnt crash!
congress 60 year destroyed india. Modi as true national has to sweep these dirt for atleast 10 years . Fully agree with porinju. Any one politician care for india as modi?
It’s time to end this argument. Modi has no family he will leave behind. All his achievements will be the change he will have brought to India and each and every citizen of this country. He will be remembered as the PM who ushered Indias true independence. His tiresome work is only to benefit each and every Indian. Ask yourself this simple question. How does Modi benefit from GST, surgical strikes, reforms, military credence, demonetisation. The only true beneficiaries are US!
Now Rahul Ghandi and his predecessors have looted the country for their personal gain, caste wedges between communities and propagated communalism, elitism and illogical hatred. They have weakened our country, belittled Indians who pray, and attacked the army who protects our borders. They have strengthen and defended the rights of terrorists, Chinese, and anti nationals. Who will benefit from this? The answer is US!
The argument is as simple as investing in stocks. If you use sound logic, experience, goodwill and Kharma, and lastly ponderence of sense and presence, then the answer is straight forward. Modi will lead India to selfless glory, and Rahul Ghandi will NOT!