Jack n Jill stocks

Some new faces were just catapulted into India’s richest by Forbes Asia.. Not that am a great fan of this exercise.

Other than regulars like Premji, and Ambanis, the list has Sunil Mittal of Bharti, online poker game operators Anurag Dikshit, Vikrant Bharghava . Jet Airways Naresh Goyal, property developer Kushal Pal Singh Suzlon’s Tulsi Tanti too feature.

One common thread in the new comers list is the rollicking stock market. And the subsequent IPO’s from these faces.

Jet Airways , the largest Airline operator in the country, crept into the black post its IPO recently and in the process turned Goyal into a billionaire. Ditto with Suzlon’s Tanti and Sunil Bharti Mittal. They have cushioned themselves in the list right after unlocking their stake in an IPO.Yup there are others as well like Dikshit, but he is as Indian as Lakshmi Mittal of Mittal steel is. As for Kushal Pal Singh, well he is Gurgoan and Gurgoan is him atleast now.

A sceptical over view of these names, just reveals that it could be a Jack and Jill case. Going up the hill to come tumbling down. Nope, I aint saying that the fresh shares are mere blips in the demat account. But they just could be. Based on just one if-What if the market crashes.
Can happen right? Citibank investment banking division says Indian market is over valued by 30 percent. Lets discount the sanguine view that Sensex would cross 16,000 by mid ’06 and assume it crashes. Lo behold, Jet Airways, Suzlon would definitely turn laggards, thanks to their high premiums. As for Bharti Mittal, am sure he will be counting his moolah at least, cause he is selling big time. Not AirTel connections alone, but stake to the likes of Vodafone and co.

PS: Speaking of riches, I remember an Economic Times survey of the richest names in a trading community. The survey lauded 10 wealthy people and spiced up their names. Except that, the research was a bit skewed. Community folks smelt the handiwork of one wealthy family, which actually occupied the top slot in the list. Why, the last spots were filled by candidates from that family or rather branches of that family. It happens right