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Took a chance with Market Creators Ltd.,

Two weeks back I was hearing lot of noise about the hefty valuations the brokerage houses are getting with the impending listing of Religare Enterprises and Edelweiss Capital. With that as a background I was scanning for any listed brokerage companies that are relatively under-valued to the industry.

I landed with a scrip called Market Creators Ltd., (BSE 526891). The stock was trading around Rs16/- when I purchased 100 shares. As expected the current momentum in mid-cap/small-cap stocks took this scrip along and today the stock has hit the upper circuit at Rs26.50. This is a decent gain of around 80% in 2 weeks time. I am going to hold on to it till Religare gets listed on Nov 21, 2007 and see how this moves post listing of Religare.

As typical of any small cap the volumes are very low averaging less than 5000 shares a day. I have learnt lessons during 2005 not to hold on to these kind of Micro-cap/penny stocks for long term. You will end up holding it as a dud-stock. As I see some money in these of kind of stocks, I would exit it as soon as possible. Possibly, it may continue to go up but the risk of the downside far outweighs the possible upside.

Right now enjoying some quick easy money thanks to Market Creators!!

1 comment:

Blogger said...

Just got my payment for $500.

Sometimes people don't believe me when I tell them about how much you can earn filling out paid surveys from home...

So I took a video of myself getting paid $500 for doing paid surveys to finally set the record straight.