The Indian stock market today Jan 07,witnessed one of the greatest fall, beacause of the Satyam scam, considered one of the biggest after Harshad Mehta and Ketan Parekh. This new has hammered the stock a lot, which touched a new 52 week low of 30.80, a leap drop of nearly 80%, cornering all those who have bought this share above 150 after Jan 01, to a sleepless night. Yeap, i am the one of those, who have been cornered.
Whom to blame? I thinks there is a consipiracy with the company auditors also, without their knowledge this cannot happen. What's the next step of SEBI, to guard the investors money from going into the hands of these culprits.
God sake, it is important to remember that Satyam doesn't make the entire Indian Software industry, still there are good reputed companies with honest managements in this country, and this scam is not going to represent India as a whole, it just represent a individual.
Hope the Black day for investors as well as the Indian IT industry will pass soon.
Wednesday, January 7, 2009
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