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.

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Saturday, January 24, 2009

BNP Paribas ups stake in Geojit Financial ( Part of Rakesh Jhunjhunwala Portfolio)


French bank BNP Paribas has substantially increased its stake in broking firm Geojit Financial Services ( Part of Rakesh Jhunjhunwala Holdings) after conversion of 1.4 crore warrants issued to the former on preferential basis on March 13 '07.

The warrants have been converted at a price of Rs 26 per share against Thursday's closing price of Rs 23.2. Geojit shares were quoting flat at Rs 23 at 1 p.m. on Friday.

The company, however, did not disclose the shareholding of the promoter after conversion of the warrants. BNP Paribas held 27.1% stake in Geojit Financial Services, according to shareholding pattern as on December 31 '08 filed with the BSE.

Post conversion of the warrants, the French bank's stake is expected to have gone up to 32% of the equity capital. In July '07, Geojit Financial Services entered into 50:50 joint venture with BNP Paribas Securities Asia to offer services to foreign institutional clients in India. Subsequently, the foreign investor approached Sebi to seek regulatory approvals for an open offer. While the offer was originally slated to open in May '07, it, however, has been delayed because RBI did not approve the same on the ground that Geojit also was into commodities business.

The Indian broking firm has already exited commodities, subsequent to which BNP Paribas floated the open offer. According to the revised schedule, the offer opened on December 22 '08 and closed on January 10 '09. The post open offer shareholding of BNP Paribas could not be known.

As per Dec 08 shareholding pattern of Geojit financial, Rakesh Jhunjhunwala continues to hold 18,000,000 shares.

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DISCLAIMER

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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