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Synopsis
Just a couple of months back, an industrial house issued an IPO for one of its group companies. It was heavily oversubscribed. The listing was at a premium, and there was a mad rush to buy the stock. The reason: The group has a track record of corporate governance and wealth creation. Today, in a volatile, falling market, that stock has corrected sharply and is available much cheaper. All talk of big industry and promoters with a track record seems to have vanished just because the Nifty and Sensex are falling. So treat this overall market correction as an opportunity to own a good business with great management. We take a look at four stocks where business is good, promoters have a track record, and the only thing which appears bad is market conditions.
When a broad-based correction is happening in the markets, all stocks witness a decline. The question is: Have macro and micros for all the stocks and sectors turned negative enough to warrant such correction? The answer clearly is, no. Let’s consider the example we cited above – one of the companies on our list today.Just two months back, this industrial house issued an IPO of a group company. The issue was heavily oversubscribed, the listing
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