@Lokesh Chiru Sir,
I agree that Hyundai is GOOD company.
But for, ultra short term player like me, who subscribes IPO ONLY FOR LISTING GAINS, criterias mentioned in my earlier post are more important than fundamentals / long term / portfolio / PE / book value etc
As on today, whether in secondary market or primary market, valuations of almost every company has gone northwards proportional to unprecedented bullish movement of Sensex / Nifty post-covid without any significant corrections.
I don't intend to keep single share of this valuations, even if some random script increase multifold.
Past experiences of
(1)1987 -Nimesh shah fame bull market
(2)1992 / 1995 - Harshad Mehta
(3) 2000- Ketan Parekh/IT sector boom
(4) 2007-08- just before Lehman Brothers fiasco
gives me strong confidence not to keep any scripts for long term, purchased at relatively higher valuations & during boom period.
Mind you, all these stretched valuations are thanks to unprecedented increase in M3 (money printing + credit growth) by government policies in each & every country. Forget this. This is lengthy topic to discuss.
Don't know when this bull market will pause or reverse but surely know that this is not the ideal time to buy & keep stock for long term portfolio. (I know about predictions of Sensex going to 10 lakhs also, so will tangible assets like Gold & Silver also as long as M3 keeps expanding)
Let me know are you witnessing any of following criteria, as of now, so that one should buy stock for long term portfolio
(1) Seasoned players of equity market not participating in equity related talks / not watching business channels / trying to re-adjust in original business / job etc
(2) Broader Market having substantial correction to the tune that everyone accepts bear market reality.
(4)Volume at very low level both in cash & FNO
(5) Stock of choice available at either 200 DMA or having corrected by 38.2 % / 50% /61.8% etc
(6) Dividend yield of utility sector stocks attractive as compared to short term FD rates
(7)Brokerage house giving new bearish target on index every now & then
(8)Draught in new IPO / Rights issue
(9) Option seller's interest income reduced to just above 12 months FD interest
(10)Put/Call ratio below 0.3 to 0.5
& many more criterias, which I dont recollect, as if now...
Conclusion:
After consistent stellar performance of equity market in last 4 years & without substantial correction with level of 81,000 in sensex, no one can claim that they are investing in 'Undervalued' script. Everyone is just chasing bullish momentum at ANY HIGHER VALUATIONS & then justifying those valuations with some twisted parameters.....