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Thursday, December 17, 2009

Early Opening of Stock Exchanges from 4 Jan

The Stock Exchanges (NSE & BSE) have announced extending of trading hours by opening the markets at 9:00 AM instead of the earlier 9:55 AM from 4 Jan, 2010. This should be a welcome step for investors who were so far unable to place orders online because they had to leave for their respective offices before the market opening. But this move is being unreasonably opposed by some Tv anchors for their own narrow personal interests. Copy pasting below a good post on a popular market message board by a boarder named Guru.

Posted by: gurugyan9 on (17-Dec-09 10:45 )
Rating *****

It is with great regret that we have to say that the CNBC TV18 main anchor, Udayan Mukherjee has become too big for his boots and is misusing his powers. Instead of reporting market news in an impartial and neutral manner, which is expected from a responsible Business News Channel, Udayan has off late started to try to force his own personal opinions on the viewers and thus try to influence them. The ordinary lay viewers are easily influenced by the views expressed by the channel anchors, specially the ones who broadcast in the first hour of market opening, ie. Udayan and Mitali. It has been noticed that they try to impose their personal opinions, driven by their own vested interests on the viewers. There are hundreds of instances where we have noticed this. The latest being the move by the stock exchanges to open the markets from 9:00 AM. This is a welcome move for the stock market investors who were previously unable to place orders in the market in the morning because they had to be in their respective offices by 10:00 AM. Such millions of office goers who have investments in the market were till now unable to place their orders online because they had to start from their homes around 9:30 AM for their offices. Now with the welcome move of the stock exchanges they will get an opportunity to place orders before they start from their homes for their offices.

This new announcement by the exchanges is a welcome step and will be of great convenience to stock market investors. This is an investor friendly move by the exchanges. But since this move would mean that Udayan & Mitali will have to start one hour early from their homes, they are viciously opposing this move on their tv channel. How can the channel allow them to dictate their terms to the millions of viewers? Both Udayan and his protegee Mitali have become too big for their boots and are totally ungrateful for how much they have earned from the company they work in and also the stock markets in general in the last 10 years. Udayan was just a small reporter when he joined CNBC TV 18 ten years ago and was promtly made the main anchor. Since then he has become the blue eyed boy of the channel and its MD, Raghav Behl. Raghav has given too much free rein to Udayan and has become over dependent on him. We think the wise thing would be to look for replacements for such big-headed Anchors. If these people have no respect for journalistic ethics of reporting in a fair and impartial manner, they should be shown the door.

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Guru said...

Dear Superstar, thank you so much for posting my comment on your website. I'm thankful for this gesture.
Udayan Mukherjee & Mitali Mukherjee care a damn for the interest of the majority of the investors who will definitely be benefitted from the extra one hour in the morning. They just care about their own small inconvenience of coming one hour earlier to their studio! This is the fact of the matter. And they have not even brought a single voice on their channel which has been in favour of the decision of the exchanges. A business channel should behave responsibly and give opportunity to all kinds of views to be expressed. But they are just presenting their own personal views and those of the brokers who will have to open office one hour earlier.

Even right now they are showing only one sided and vested interests on their channel as I type this post. They are totally misleading the public by saying that this decision is against the 'common man'. What a joke! The extending of trading hours is actually a good thing for common people because they will now be able to place their orders before going to office. But Udayan & Mitali don`t care. They care only about themselves!

And they have become so rude to people who have opposing views. Last two days we all have seen how rudely Udayan has behaved with Mr. Adi Godrej and Mr. James Shapero of BSE. Really shameful! If I was Udayan`s boss, I would have terminated his services immediately.


Superstar said...

I completely agree with you, Guru.


PaM said...

Hi Superstar,

Currently I am holding the Unichemical Labs 60@214 as per your earlier call. Could you please suggest me how long I can hold this stock. Also your view on jayaswal Neco and Gremach infra.


Superstar said...

Hi Pam,

You've made good profits in Unichem Labs, I would have booked them now and switched to something which is yet to move. Micro Tech is a great buy at current levels for investment.

About Jayswal Neco, I had given a buy call on that around 32 and it went on to highs of 82, where I had advised all to book profit in the last bull run. Those who listened to my suggestion did well. Gremach Infra.....the management has a bad reputation, that's why the stock is not moving.


DEEPAK said...

hi superstar..
iam a new visitor....your picks are eally workingman.i m talking about micro tech.whats ur view about ksera sera

DEEPAK said...

hi superstar
ur tips working man.i talking about micro tech.
whats ur view about ksera sera

Superstar said...

Hi Deepak,

Thanks for writing here. Sorry for the delayed response, I seem to have completely missed your comment. K Sera Sera has been consolidating between 13-14 levels for a long time now, and it should breakout of this range soon. There have been some positive developments in the company with their Cineplex in Ahmedabad being inaugurated by Shah Rukh Khan. I think their project of opening mini cineplexes across India should do well in the future.