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Understanding Stocks
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Understanding Derivatives
uTalk
Share your experiences and opinions with us. Get to know the many fascinating stories of our employees, clients and everyone else who has an opinion.
It was 1994 when I approached Kotak Securities in Pune on FC Road. They were new kids on the block and a welcome change from the brokers club on BSE that had ruled.
Those were the days of IPO's. I started doing my IPO's from Kotak. I had luck in some , lack of luck in others. I would always discuss an IPO or public issue as it was then called with Harshal the branch manager. He was a willing participant. He saw that I came to him after reading Capital Market , Dalal Street and the TOI review of the IPO. A relationship emerged.
Harshal, the manager was generous in another way. He gave me as many research reports I wanted without asking for anything in return. Reading them taught me how to appraise a share in the secondary market (I was only 25 odd years from a non-business background) and discussing the same report after a year taught me a lot.
Then came another bank's IPO. Proportionate allotment system had come. My father had just retired and we had about Rs 4 lakh in the bank. I had acquired shares of this bank in its IPO and had seen the benefits. The question was - do I put all the money in one application or do we make multiple applications. The key was how the shares would be allotted.
I told Harshal my dilemma. We discussed it. He asked his seniors. Finally the decision was taken. We made one application for the entire amount my father had received as his pension settlement. We were allotted 400 shares then. Had we made multiple applications chances are we would have got none. Only Rs.4000 were spent and we got a refund i.e.: our stock invests.
Those 400 shares are now 8000 shares @Rs.625/-. And growing. My father is no more , but those shares are going to pay for the education of one of his grandchildren as per his wishes... still time before a child needs it!
A good broker should educate, empower and encourage rational investments. Kotak Securities encourages this. And hence it remains in memory. The shares of the other bank which I had invested in during its IPO remind me of this particular aspect even today !
Good Luck Kotak Securities. May you continue to grow and offer good services to your clients.
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