Investors lose Rs. 15 Lakh Crore since Nirmala Sitharaman’s Budget
The appointment of Hon’ble Nirmala Sitharaman as the Finance Minister has proved to be a bad omen for Dalal Street.
It may be recalled that the expectation amongst the intellectuals in Dalal Street was that either Hon’ble Amit Shah or Piyush Goyal would be entrusted with the tough and unenviable job of managing the economy.
Piyush Goyal is a distinguished Chartered Accountant & seasoned businessman and knows all the techniques for managing the economy.
Amit Shah is an accomplished stock picker/ broker and has several multibaggers in his portfolio (see Check Out The Multibagger Stocks Portfolio Of Amit Shah).
He is also a close buddy of mega Billionaires Mukesh Ambani and Gautam Adani and is well-versed with business matters.
In sharp contrast to the capabilities of the duo, Nirmala Sitharaman has no business or commercial experience.
Instead, she learnt the ropes at the JNU.
According to popular belief, JNU is a dreaded hotbed for communist/ socialist thinking.
The intellectuals at JNU are supposedly inspired by the ideals of Lenin and Karl Marx and are vehemently opposed to capitalism and private entrepreneurship.
In fact, when the news had first come in about Nirmala Sitharaman’s appointment as Finance Minister, the stock markets had witnessed a flash crash.
Sensex 748 points Flash Crash from day high
Banknifty Fut 1253.35 points Flash Crash from day high
Nifty Fut 218.35 points Flash Crash from day high#freakyFriday
— Himanshu Gupta (@Tradersschoice) May 31, 2019
When @nsitharaman name was announced as FM, market fell drastically (Bank Nifty fell about 800 points in few minutes), in a knee jerk reaction.
Now I understand that it is not a knee jerk reaction, well thought out reaction.
???
— P R Sundar (@PRSundar64) August 1, 2019
In hindsight, this may have been a sign from the heavens, warning of dire straits ahead.
Early signs of communist/ socialist thinking
Prima facie, it does appear that Nirmala Sitharaman and her advisers have a communist/ socialist bent of mind.
Apart from levying hefty taxes on the so-called “super rich” and FIIs, she has also imposed unpalatable norms on setting up companies and CSR spending.
Make no mistake. This is a tax. A terrible one at that. Because it's disguised. #CSR https://t.co/MqzR0E1t48
— menaka doshi (@menakadoshi) August 1, 2019
This is the reason why JNU graduates should NOT be hired for key positions?
— देशी ज्ञान (@polibolly_in) July 30, 2019
Physical register, Director photo, Office photo, Director KYC, Aadhar, PAN, Mobile phone…what next – DNA fingerprinting, Babu attestation, Birth/Life certificate ! Are entrepreneurs presumed guilty unless proven otherwise ?
Nehru should be proud…@narendramodi @PMOIndia !!— SunilH (@hsunil10) July 31, 2019
Finance ministry is doing massive blunder. Country cannot progress by assuming everyone is thief. It will grow if even the most deprived is given encouragement for wealth creation. This is real socialism – not wealth distribution.
— જતિન તન્ના (@Jatin31583) July 31, 2019
WHAT? Physical register? Which era do we want people to live in? Most startups operate out of co-working spaces or out of their/parent's home. Is this "ease of doing business"? This is just stupid. @PMOIndia @narendramodi
— katapayadi (@katapayadi) July 31, 2019
Wealth distribution is a tried and tested recipe for failure. Has broken nations politically, not just economically. Renders people incompetent. Kill creativity. Against human nature of struggling and pushing ahead.
Gandhi was not competent enough to be role model for economy.— જતિન તન્ના (@Jatin31583) July 31, 2019
We are having one of the strongest @PMOIndia s in India's history. Unparalleled mandate! When PM tolerates the disastrous moves of the FM it means she has his blessings too. Incompetence, socialism, hunger to stay in power and populism is the order of the day
— MVR (@MarkivOar) July 31, 2019
Hmm. So he should start sacrificing his salary and ask his entire dept to work even for free if they are so much into sacrificing.
Charity begins at home and not with others
Every Indian should sacrifice for $5 trillion economy goal: Amitabh Kant https://t.co/7fGZUSh81G— Rishi Umrania ?? (@ProAMTraider) July 10, 2019
‘Collect taxes from citizens like a Bee collects Honey from the flowers – quietly without inflicting pain.’ – Chanakya
‘Tax anything that moves. If it still moves, tax it some more. If it still shows signs of life, ask it to 4 CSR and penalise if it doesn’t.’ – @nsitharaman
— Shefali Vaidya ஷெஃபாலி வைத்யா शेफाली वैद्य (@ShefVaidya) July 31, 2019
Revenue starved Govt is trying every bit and pieces for revenue.
Socialism and Capitalism can not go hand in hand.
Indian Government should learn from Capitalist countries like US.
(They top in revenue, employment, health, education, social security etc.)@PMOIndia work on??— किशोर कुणाल (@kaykayjha) July 29, 2019
If you can’t make everyone rich at the same time let’s make everyone poor again. How’s that for equality?
— Basant Maheshwari (@BMTheEquityDesk) August 1, 2019
FIIs flee India, Investors reduced to penury
According to experts, Nirmala Sitharaman’s disastrous budgetary policies of higher FPI tax, buyback tax and promoter holding reduction have lead to an exodus of foreign investors.
#OnCNBCTV18 | BNP Paribas India says 3 proposals in budget have hurt markets-higher FPI tax, buyback tax, promoter holding reduction pic.twitter.com/NmgJyWlaXI
— CNBC-TV18 (@CNBCTV18Live) July 25, 2019
In the wake of this exodus, the stock market has lost a colossal fortune of Rs. 15 lakh crore in the blink of an eye.
This has reduced investors to a pitiable state of abject poverty.
Since Budget Day:
Total BSE Listed Stocks have lost Market Cap of 15 Lk Crore#Market #BSE #NSE— Mangalam Maloo (@blitzkreigm) August 2, 2019
Massive Selling by FIIs in Index Futures
Net Sell 2049 Cr; Add 21500 Shorts
Long Exposure at just 28%Lows Imp to Watch:
Indices Y'day Low Recovery
Nifty 10881 +99 Pts
Nifty Bank 28047 +320 Pts https://t.co/zppdtRyRQ5— Mangalam Maloo (@blitzkreigm) August 2, 2019
NIFTY TURNS NEGATIVE FOR 2019
Since Budget Day
Sensex -8%
Nifty -9%
Nifty Bank -11%
Midcap -14%
SmallCap -14%KEY NIFTY LOSERS
Since Budget Day
Titan -18%
Bajaj Finserve -19%
Bajaj Finance -16%
HDFC Bank -12%
HDFC -10% https://t.co/Rb29PPJFJC— Mangalam Maloo (@blitzkreigm) August 2, 2019
Mission Achieved
NIFTY down 6%
Midcap Index down 12%
Smallcap Index down 11% in JulyWorst since 2002
Congratulations to @FinMinIndia and all other contributors from the Bureaucracy, other ministries etc
— sandip sabharwal (@sandipsabharwal) July 30, 2019
“बॉटम बॉटम सब कहे, बॉटम बने न कोय!
जब असल बॉटम बने, तो रोकडा बचा न होय!” – बफ़ेट कबीर#Whatsapp #Nifty50— Mangalam Maloo (@blitzkreigm) August 2, 2019
Pundits beseech NAMO to rescue Dalal Street
The desperation amongst rank-and-file investors has risen to a dangerous level.
Porinju Veliyath took the lead to plead with NAMO to intervene and salvage the sorry situation.
It is well known that Porinju has a hotline to NAMO.
Also, Porinju’s massive follower base of 1.1 Million (next only to Warren Buffett‘s 1.55 Million) makes it impossible for the Mandarins of South Block to ignore him.
Porinju pleaded with NAMO not to turn a blind eye to the “OMINOUS signs in the economy” and to listen to “patriotic biz leaders“.
Shri @narendramodi , please spend a day listening to India's patriotic biz leaders like @udaykotak @anandmahindra Aditya Puri, Adi Godrej & @TVMohandasPai and get honest feedback from who understands economics like @APanagariya @Swamy39 We can't afford to miss this opportunity!
— Porinju Veliyath (@porinju) July 31, 2019
" @SrBachchan was running a show called
Kaun Banega Crorepati.India currently running a show called
Kaun Bachega Crorepati."Courtesy – WhatsApp
— Porinju Veliyath (@porinju) July 30, 2019
Inspired by Porinju, the other Pundits also bombarded NAMO with similar plaints.
Ma'am @nsitharaman -Obsession with higher taxes will not lead to higher collctn but can cause collateral damage,the kind v r seeing in economy,industry&markets
Time to set aside ego & do course correctn
Don't be d Elephant that tramples upon&destroys large fields for little gains https://t.co/KxGSQdsXvt— Ashish Chugh (@hiddengemsindia) August 1, 2019
Respected Sir @narendramodi ji, @PMOIndia, ma'am @nsitharaman ji
Kindly spare your precious 2 minutes and listen to this song of mine to know the true picture of stock market.Thanks and Regards??https://t.co/Rtgcgb7Ql0— Vijay Kedia (@VijayKedia1) July 13, 2019
Tick, Tick, Tick….Economist lao Economy bachao ! https://t.co/5IhLIQ21gG
— Basant Maheshwari (@BMTheEquityDesk) August 2, 2019
Great job Rajdeep. You have captured the pulse and heart of people who are losing millions even while the administration looks the other way. I hope this inspires some of the folks from my fraternity to try and make their voice heard !! https://t.co/2ijd0ajN81
— Basant Maheshwari (@BMTheEquityDesk) August 2, 2019
Open letter to Smt Nirmala Sitaraman, honorable Finance Minister. Please retweet if you agree. (This is my first such request)@nsitharaman@nsitharamanoffc@FinMinIndiahttps://t.co/pqoO0fu5LI
— P R Sundar (@PRSundar64) July 31, 2019
The socialist #FinanceMinister has not faced the wrath of the markets.
Retrograde tax policies are unfortunate and can hurt all long term investors despite everything being on track for a strong economic recovery.Lets hope not. Keeping fingers crossed.
— sandip sabharwal (@sandipsabharwal) July 19, 2019
Budget treated equity investing in line with cigarette or alcohol usehttps://t.co/zxQem9EF8u@nsitharaman
— Vijay Kedia (@VijayKedia1) July 8, 2019
Say it again- US has zero capital gains tax for overseas investors ( which includes anyone investing from India). https://t.co/XzwhOO5YF8
— Samir Arora (@Iamsamirarora) July 16, 2019
NAMO promises to rescue Dalal Street
Thankfully, the pleadings by the Pundits have reached NAMO’s ears.
He has promised to look into the matter and take appropriate remedial steps.
Finally! https://t.co/Rlah9v4Evs
— Ayesha Faridi (@AyeshaFaridi1) August 2, 2019
#ETNOWExclusive | @PMOIndia intervenes as markets sell off & FPIs pull out- @NayantaraRai with detailshttps://t.co/tLM2cJ2hka
— ET NOW (@ETNOWlive) August 2, 2019
Govt Sources To Reuters: NITI Aayog, PMO & PMEAC Working On Issue Of Surcharge On FPIs@FinMinIndia To Conduct Detailed Study On FPI Tax Issue pic.twitter.com/O72KjNnTeM
— BTVI Live (@BTVI) August 2, 2019
I had warned of stock market crash in 2018, now it is time to buy: Vijay Kedia
In an earlier interview, Vijay Kedia had revealed that his immense fortune is attributable to the fact that he has snared as many as 30 100-bagger stocks in the course of his illustrious career.
In fact, Vijay Kedia is blessed with an intuition which alerts him to market highs and lows.
In November 2017, Vijay Kedia had sent the clear warning that the markets were witnessing excesses and that a correction was around the corner.
“One thing that I did not like in the market was the euphoria. I felt the euphoria should die down … the sentiment had gone so high that people had really become blind,” Kedia had warned in a grim tone.
He had also pointed out that midcap and smallcap stocks were trading at exorbitant valuations which would not sustain forever.
It means don't leverage, don't get over excited. Keep a balanced mind. Always remember, any stock can fall 10- 20% and more anytime in any kind of market, without any warning. Invest only in quality cos for long term, to stay happy and fearless. https://t.co/OOR7FIHtBF
— Vijay Kedia (@VijayKedia1) November 13, 2017
However, today the wheel has come full circle.
Vijay Kedia has now opined that there are several “diamonds” strewn across Dalal Street and that we should rush to scoop them up.
When you think there is no God it's time to search diamond in trash. https://t.co/D5T8oD4VKj
— Vijay Kedia (@VijayKedia1) July 30, 2019
The man who predicted a market crash in April 2018, says it’s time to search diamond in the trashhttps://t.co/PcgvaidZZC
— Vijay Kedia (@VijayKedia1) August 2, 2019
The markets are really bad & there is negativity all around but trust me this is the best time to work more hard & do your home work in depth before investing. Results will come sooner or later. Hopefully v soon.
— Varinder Bansal ?? (@varinder_bansal) August 1, 2019
Which are the best stocks to buy now?
Vijay Kedia advised that we should tuck into companies growing at 10 per cent, with debt under control, trustworthy management and a stable business model.
In fact, he described the stocks in his portfolio as possessing all of these attributes.
It may be recalled that he has earlier cherry-picked four high-quality stocks from his portfolio for us to buy (see Vijay Kedia Recommends 4 Multibagger Stocks For 2019).
In addition, ten leading stock pickers have recommended ten fail-safe large-cap and mid-cap stocks for us to buy now (see Top 10 Stocks To Buy Now – Recommendations By Vijay Kedia, Basant Maheshwari, Porinju Veliyath Etc).
Any or all of these stocks would be ideal investment candidates!
Just to show women empowerment , Modi has given top job of nation to arrogant & incompetent women. There are many sensible women leaders available who can take a balanced decision after consulting industry leaders. We are going to waste few years due to this unilteral decision.
This is not woman empowerment, but finding a yes woman ,with no political and economic understanding.All useless ideas to destroy Indian economy like demonetisation, poorly implemented gst,free distribution of cash or kind from govf budget to parasites by taxing through nose of those who are working hard LTCG and now 42.7% rate of tax are from a Chaywala who is fooling the nation by spreading fear of a considerable weak Pakistan ,forget about illetrates, even educated feel proud in becoming fool from a Chaywala.
Don’t shoot the messenger, if People has chosen a Tea maker over a Economist, people deserves to be punished by tea maker. Maintain your asset allocation,don’t go over board over equity. Equity culture in India was gift of Manmihan Singh and P chidambrem, as people in India don’t respect those who does good economics, they need to be punished for voting on fear of Pakistan, who can be fooled by ignoring the fact that Indua ranks 4 th in military power against 15 rank of Pakistan..Every govt in past has defeated Pakistan in all wars and conflicts and India will win all future war with Pak also irrespective of who is PM,as India is bigger and stronger. So stop being fooled by a Chaiwala and Eldct those who understand economics. Till then,forget return on capital,just think return of capital till you vote him out in every next election , as Chaywala is all out their to destroy your wealth and himself enjoying world tours like Nero..
Yes, agreed. Pay attention to “return of capital” rather than “return on capital”.
India has wasted precious 10 years on a Chaywala ,who know only one trick,to fool public in name of Pakistan, people make fool of themselves without thinking that Pakistan is a very weak and small nation against ndia just like a dog against elephant.Indian should learn to vote on performance to avoid personalities like Chaywala
Forget about multibaggars remain invested in good large cap stocks which can pass through Black Era of Modi like Big IT,Big pvt financials which includes big pvg banks,pvt insurance,AMC,HDFC,paints,L& T,RIL etc .Till father of Muffatkhors and enemy of tax payers is ruling, you need to conserve your capital. No recommendation, This is what I am doing and hoping for good election results next time.
It’s Modi’s budget. Bhakts go to any extent to defend him and make scapegoat out of others. There is clear lack of talent in this govt. They drive away everyone who does not agree with Modi’s view. Things will get worse.
Tera coat tailing ka Kya hua? Sirf porinju bachega.
Since Modi has stepped in to review the policy, it is right time to buy now. Market will zoom non stop once fpi tax removed
Modi will find some thing new for scoring a Self Goal for Indian economy, he has thousands of chaywala economist ideas to destroy economy.
Hahaha…super. Am loving the mess. The people who abused the government whose laws made them the millions and crores deserve such nincompoops in power. Glad to see the bloodletting on the stock markets. What else did they expect with the economy itself deep inside the septic tank? How long was the economy and stock market supposed to remain aloof? Something had to break the back of the camel and it did. Enjoy the burn.
looks like Bajaj finance will hit 5000rs, big hands accumulating ..so are promoters increasing stake massively every quarter. Singapore government increases stake 3.75%..