Now that SEBI has intervened, the Exchanges were forced to action. It is clear to whom they serve. Why they could not see the exuberance in SME sector, when everyone could see it? It was some sorts of a scam. Issues being oversubscribed by more than 500 times, that too not 1 or 2 but many.
With introduction of short term ASM, the euphoria will be over. Many scrips without fundamentals, may become penny stocks, which they deserve. But what pains me, is that many gullible investors will suffer and take heavy loss, which is not good for anybody.
Some SME stocks are bound to be tomorrow’s stalwarts, but to identify them is a herculean task due to paucity of information. So it is better to avoid them instead of investing on the basis of scanty information and hearsay .
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