When the exchange had to be closed when a bear attack took place on Reliance shares and the personality that Dhirubhai Ambani was, he hammered the bears!
Personally, I go to BSE every year at Diwali muhurat to buy one share on the trading floor and ring the IPO bell. It is the most adrenaline filled activity for me :)
Forget the Share Mania of 1992, let me tell you about the oldest share mania!
India's oldest Share Mania witnessed in 1861-64 and its effects.
And Yes, that's me ringing the IPO Bell - Ringing it as an stock market enthusiast, one day, hopefully, will ring it as a company owner :)
For me, #Scam1992 was a very emotional and nostalgic watch given the massive coverage of BSE. Every die-hard fan of the stock market, lover of history, passionate and serious investors must have visited Dalal Street and touched the stairs of the BSE building
A lucky few must have visited the ring.
BSE building is not a building, it is an emotion! I can vouch for it!
When I was working at my last employer (BP Wealth), I used to go here and just stand there below the building and stare at the ticker!
BSE building is very well a tale of caution but is very inspirational as well!
Sorry for the long thread and some emotional messages.
Please share with everyone, each and everyone shud know the rich history of our Financial markets :)
Good day!
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In the early 1930s, selling cars to rich zamindars in southern Tamil Nadu wasn't easy. They preferred horse-drawn carts. T.V. Sundaram Iyengar & Sons, or TVS & Sons, which had bagged a General Motors dealership, decided to drive its message home quite literally
A Chevrolet car, complete with chauffeur, would be sent to a zamindar's house, with a request that he use the car for a week. Over the next seven days, the family would often get used to the comfort and status the car gave them, and end up buying one.
TVS, established in Madurai in 1911, did not cater only to the rich. Indeed, its first business, started in 1912, was a rural transport service. TVS went the extra mile to ensure buses ran on time.
So Reliance Retail is in the news as it is being touted to be in the race to acquire Future Group assets to become a bigger Indian Retailer (It is already a behemoth).
According to Trak.in , "All the control from Future retail basket, including FBB, Big Bazaar, Food Hall and Central, along with Future Lifestyle Ltd, and Future Supply Chain Solutions will be handed over to Reliance. These three entities will be merged into one.
Speaking of Biyani, he will be leftover with control of Future Group’s FMCG business and some other smaller group companies."
RELIANCE IND has a Board meeting on April 30th to discuss Q4FY20 Results, Dividend, and a Proposal of a rights issue
The last rights shares that RIL issued was in 1991 in ratio of 1:20
So here's a small thread on RIL, Dhirubhai Ambani, Mukesh Ambani, and a few amazing facts
#1 This is the first public raise the company is doing after 1991 or after 29 years. (No Splits in its history)
The company does have a history of Bonus shares. (attached)
Before jumping onto 2nd fact, we see that unlike other behemoths, Reliance Industries doesn't do concalls and management interviews. Now some ppl would argue that that's bad, but I think that's quite professional. They focus on business and not interviews!