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Value will Protect in a Wildly Swinging Market !
How Terribly Inefficient our Stock Markets are !
The Share Price Swings in Small & Mid Caps can be equally exhilarating and devastating !…depends !
And all this happens when the Sensex and Nifty move in a very narrow range !
Down ! Down ! Down!
Look at Amtek Auto’s Crash yesterday and continuing today !…all because the Exchanges announced that it will no longer be traded in the F & O Segment
It was Rs 141.50 on August 17,2015.Yesterday August 19,2015 it crashed by nearly 40% and Rs 50 to hit a low of Rs 78 before closing at Rs 89 !
And this morning August 20,2015 it crashed another 40% to a low of Rs 50.70 before now recovering to Rs 67 levels !
So the fall in three days from a High of Rs 141.50 to a low of Rs 50.70 is 64% erosion of market cap from Rs 3100 crs to Rs 1100 crs in just one big Breath ! with High Volumes but low Delivery %….SCARY !
And this is a Company where the Promoters Dhams & Their Companies own 48.98%,FPIs like Goldman Sachs & Macquarie hold 18.83%,Domestic Institutions like LIC hold 16.47% as on June 30,2015.
There were over 46000 shareholders on this date.Spare a thought for them !…and for those who were long in F & O !
…and Spare a Curse for those Broking Houses and FPIs who recommended this Scrip !
Did not all know that the Group is struggling with over Rs 25000 crs in debt !….Wise after the Event !