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munchikana said:
Sorry for barging in a question directed to someone else. What prompted you to buy RPL at Rs.89? Even at Rs.60/- (in my humble opinion) it is expensive. You may note the fact that no ground work for the proposed refinary has started as yet. Production is far off in schedule sometimes in 2008 or so. Until then no profit, no dividend, no EPS. And, if the earlier experiences with Reliance were to be taken as a clue, once production begins and profits begin to flow, RPL might be merged with reliance industries and if that happens, you will be given a few shares (which you may in all probability) which you can count on your finger tips. I just remember a comment made by American on TV channelon the eve of RPL public issue. He frankly told that he is not going to pay a huge premium of Rs.60/- just for the name of Mukesh Ambani. Mera Sapna, Sabka Mal Apna. 
That is the motto. Have you got the point? TV channels are such powerful media of propaganda that allmost all (except a few very intelligent) can be fooled with exaggerated claims and false propagandas. Have you ever seen even one dissenting voice expressing concern over the expensive valuations at the time of RPL issue? Rather, during the continuance of public issue all TV channels showed so many investors claiming that they have applied for the public issue to the maximum they can afford, that they will hold it for ever etc. etc. A sort mob frenzy or mob opinion was created conveying an indirect message to apply for the issue. My friend, this is shrewd business. Money matters lot. Campaign was managed very beautifully. Remember, a mob may consist of variety of persons, some of whom, if left alone may be very intelligent. However, there is what is called as mob psychology and mob thinking. This is the precise danger in the mob. This clouds the rational thinking capacity of even those otherwise intelligent persons in the mob and they too tend to easily agree with the mob without analysing the things, which they will otherwise normally do. I feel this is what has been done by TV channels during the public issue of RPL. If I have hurt your feelings, I am extremely sorry. Forgive me. I have seen many of my friends, vying with one another to buy RPL shares on the day of its listing at the price in excess of Rs. 100/-. I cautioned them, but it was of no use. I feel sorry for them. On seeing your query, I just could not control my feelings.
That is the motto. Have you got the point? TV channels are such powerful media of propaganda that allmost all (except a few very intelligent) can be fooled with exaggerated claims and false propagandas. Have you ever seen even one dissenting voice expressing concern over the expensive valuations at the time of RPL issue? Rather, during the continuance of public issue all TV channels showed so many investors claiming that they have applied for the public issue to the maximum they can afford, that they will hold it for ever etc. etc. A sort mob frenzy or mob opinion was created conveying an indirect message to apply for the issue. My friend, this is shrewd business. Money matters lot. Campaign was managed very beautifully. Remember, a mob may consist of variety of persons, some of whom, if left alone may be very intelligent. However, there is what is called as mob psychology and mob thinking. This is the precise danger in the mob. This clouds the rational thinking capacity of even those otherwise intelligent persons in the mob and they too tend to easily agree with the mob without analysing the things, which they will otherwise normally do. I feel this is what has been done by TV channels during the public issue of RPL. If I have hurt your feelings, I am extremely sorry. Forgive me. I have seen many of my friends, vying with one another to buy RPL shares on the day of its listing at the price in excess of Rs. 100/-. I cautioned them, but it was of no use. I feel sorry for them. On seeing your query, I just could not control my feelings.
I'am afraid I share your views with the same intensity, I used to shout at people that why in the world would they be so desperate to buy RPL when the plant is not even made yet & they are expecting 150/200 or whatever in few weeks / months ??? Also I told them that if they wait for 6 months or so they can get this same at the preferencial price given to the priviledged @30