Please read the DISCLAIMER at the bottom of the blog.

Rakesh Jhunjhunwala is considered to be the greatest investor in Indian Market. He is supposed to have made Rs 5000 crores by just investing Rs 5000 in Indian Stock Market. Rakesh Jhunjhunwala guru mantra to be successful in stock market is as enumerated below:

(a) He advises people to become interested in a stock when none is interested in the same stock. As per him BUY RIGHT & HOLD TIGHT for years to come. He has been holding few stocks for last 10 years and he is still minting money from those stocks.

(b) He further advises that one should not follow big investors blindly as their risk profile and long term goals with time frame may be difficult to be followed by retail investor.

(c) Market is supreme and every thing is reflected in the price and thus their is no point in fighting the trend as market is always right.

(d) One should be able to create a balance between the fear and greed.

(e) As per his words one has to learn the stock market trading as none can teach the market as stock market experience is the best teacher.

Thus follow Rakesh Jhunjhunwala advice in stock market, BE PATIENT and grow big like Warren Buffet or this iconic man from Dalaal Street.

If you subscribe to this blog with your email, you will get the post right in your INBOX moment it is posted on this blog. Do remember to activate the subscription in your email. GOOD LUCK.

Friday, November 21, 2008

LUPIN may have to cough up huge fine ( LUPIN is a part of Rakesh Jhunjhunwala portfolio)

Drug companies including Ranbaxy Laboratories, Dr Reddy’s Laboratories (DRL) and Lupin ( Rakesh Jhunjhunwala is holding LUPIN shares) may have to pay over Rs 1,600 crore as penalties for selling some of scheduled drugs (whose prices are controlled by the government) at a price higher than the prescribed limit.

The National Pharmaceutical Pricing Authority (NPPA) has asked Ranbaxy and DRL to pay a fine of Rs 124.21 crore Rs 31.11 crore respectively for overcharging consumers. The government sets price limit of certain essential drugs including medicines used in the treatment of cancer, asthma, pneumonia, diarrhoea and typhoid.

In a nationwide survey conducted by the NPPA to take stock of ground reality, it has found that companies are overcharging customers for about 500-odd medicines in violation of drug price control norms, an NPPA official told ET. In case of scheduled drugs, companies have to go back to the NPPA for raising prices of medicines. However, companies can raise prices of non-scheduled drugs by 10% in 12 months.

Ranbaxy and DRL did not respond to email queries. The survey has found that both DRL and Ranbaxy are overcharging for Ciprofloxacin-based formulations, Cloxacillin-based formulations (antibiotic used for the treatment of typhoid and pneumonia) and Norfloxacin (antibiotic used for the treatment of urinary tract infection) drugs.

The drug price regulator is issuing notices to pharma companies after finding evidences of overcharging. It asks them to deposit the overcharged amount along with the interest to the government and give explanation for violating pricing norms. Some of the companies challenged NPPA’s decision in the court.

So far, NPPA has recovered Rs 27.81 crore from Ranbaxy and Rs 11.33 crore from DRL. Recently, the NPPA has roped in district collectors to recover the money.

As per Sep 08 share holding pattern, Rakesh jhunjhunwala is holding 1,661,881 and 1,130,254 shares in the name of Jhunjhunwala Rakesh Radheshyam and Jhunjhunwala Rekha Rakesh respectively

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.

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