Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

News

11,464.0035.7
Stock Analysis, IPO, Mutual Funds, Bonds & More

Chor companies never change, I burnt fingers trying to bet on #ChangingIndia: Porinju

He said these cos will perish in the ongoing ‘Historic Detoxification Drive’ of India Inc.

ETMarkets.com|
Updated: Oct 07, 2019, 11.44 AM IST
0Comments
Porinju-Veliyath-1200
Porinju-led Equity Intelligence had 2,338 investors in September with asset under management of Rs 894 crore.
NEW DELHI: Porinju Veliyath, a well-known alpha chaser on Dalal Street, says only companies with integrity can be consistent compounders.

Sharing his views on the ongoing market correction on social media, Veliyath tweeted: “Most chors never transform! Trust me, I have burnt my fingers than anyone else betting on the #ChangingIndia theme.”

He said they will perish in the ongoing ‘Historic Detoxification Drive’ of corporate India. Only companies with integrity – small or large – would survive and emerge winners.


Porinju-led Equity Intelligence had 2,338 investors in September with asset under management of Rs 894 crore. His PMS delivered 5.60 per cent return last month, according to Sebi’s monthly portfolio manager report.

His PMS witnessed a 2.69 per cent erosion in August, 13.20 per cent in July and 6.15 per cent in June.

Earlier, in January 2019, Porinju said he made a mistake by investing in LEEL Electricals, formerly known as Lloyd Electric & Engineering.

About 1,250 stocks on BSE have eroded over 50 per cent of investor wealth since January 1, 2018. Some 126 stocks have lost in excess of 90 per cent in last 21 months.

A staggering 2,100 stocks have failed to deliver positive returns since January, 2018. The selloff has baffled many seasoned investors.

The benchmark BSE Sensex is up 11 per cent since January 2018, while the BSE Smallcap and Midcap indices have cracked 34 per cent and 23 per cent, respectively.

Also Read

Smallcaps may be down in the dumps; but Goel and Porinju still buying them

Porinju Veliyath on 4 stocks that could benefit from Budget push

Are smallcaps all set to make a comeback? Porinju thinks so

Picking LEEL Electricals was a mistake, admits Porinju

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service