Times of India make a gross error in headline business article on mid caps erosion that concludes that Orient Paper eroded over 90%
Dont Expect a leading Newspaper like Times of India to make this gross mistake !
In a Business Headline Article on Page 23 of todays edition titled Mid-caps see up to 90% value erosion Partha Sinha has not done his homework and therefore has erred horribly in concluding that Orient Paper has seen the worst mid cap erosion from Rs 72.50 to Rs 7.50
~ the fact is that Orient Paper closed at Rs 72.60 on BSE on March 6,2013 and the next day from March 7,2013 it was quoted at @ Rs 14 and Rs 15 ex- free entitlement for shares in the demerged Orient Cement (record date was March 9,2013) which should be listed in the coming months at around Rs 50 to Rs 60 + ~ The Actual Fall in Orient Paper has been from Rs 15 to Rs 7.50 largely as lot of shareholders have sold the shares ex entitlement as now the major business and assets are in the demerged Cement Company
Perhaps I should resume writing for the Times group again ~ did for Economic Times years ago….