Retail investors ask: How can we trust any company now?
Sanjay Parekh had bought 300 shares of Satyam when they first slid to Rs 145 after the Maytas deal fell through.india Updated: Jan 08, 2009 20:54 IST
Sanjay Parekh had bought 300 shares of Satyam when they first slid to Rs 145 after the Maytas deal fell through. He wasn’t able to get these shares off his back when the free fall began on Wednesday and is not hopeful that he will get his investment back.
“I lost Rs 40,000 in a day and I doubt I'll be able to recover the investment even if some bigger company takes over,” said Parekh.
“You can imagine something like this happening with a mid-size stock, but we are speaking of the fourth-largest IT company of India and the whole revelation came as a complete shock to a long-term investor like me,” said Parekh.
The sentiment is echoed by Vikas Sharma who still can’t get over the fact that a company that was supposed to be as solid as gold could have melted into oblivion.
“How can we trust any company now?” he questioned, “People like us who invest in these companies are doing so after saving our money. It’s our savings that we are putting on the line here,” said Sharma another long-term investor who had bought about 500 shares when the scrip was at Rs 400.
But there are two sides to every story .If on one hand there are shareholders who are regretting the day they invested in the scrip of this beleaguered company, there are those who wanted to, but couldn’t and are today thanking their stars that their investments are safe.
Ashok Shah is one such person. “I have been in the market for a long time but for some reason was never able to invest in Satyam. I was stunned at the scrip’s free fall yesterday and couldn’t help thinking of the losses I would have incurred had I invested here,” he said.