This refers to the report "Government's dash for cash triggers meltdown in PSU stocks" (August 5). The government of India came out with public issues of various public sector undertakings such as NHPC, NTPC, Rural Electrification Corporation, Union Bank Of India, NMDC, SJVN, Engineers India, Coal India Ltd, Power Grid, MOIL, Shipping Corporation of India and Punjab & Sind Bank in 2009 and 2010.
At that time, self-acclaimed experts recommended these issues to small investors with a long-term view. So, many gullible small investors, like me, believed them and put in their hard-earned life savings in these issues. Look at the plight of such long-term investors after three to four years of investment. Leave alone yielding any return, their capital has been wiped off to the extent of 70 per cent in some of these stocks. Those who sold their shares immediately after listing, made the profit but the long-term investors have been left with nothing.
A K Gupta Ludhiana
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