September 17, 2017

Bullish Times Are Always "Dil Khush "

My late father, Dr. Dharam Paul Aggarwal ,used to  recall the shares bazars of Pre 1947 and their reporting in the newspapers.

In Punjab , in those days the prominent Stock Exchange was Lahore and regional news papers were in Urdu.

Shares Up

If , on a particular day , Markets rose then in the following day's Urdu newspapers  it was reported :-

Aaj Lahore Stock Exchange Mein DIL KUSH TEJI Rahi "

Shares Down

Aaj Lahore Stock Exchange Mein DIL KHARAASH MANDAA Raha.


What ever the times , a Rise in Share Rates ( now seen on computer screens ) , always , brings  smiles .

My father told us that biggest speculative share in Pre Independence times was Tata Deferred .

( Tata Steel's Deferred Share which was entitled to Dividend twice ,Ordinary Equity Dividend + a Special Exclusive Dividend. )

Brokers in the Stock Exchange Trading Ring shouted O -- DEFERRED , O--DEFERRED ---Liya - Becha, '

 The massive speculative volatility embarrassed the Tata s who , ultimately  around 1953, converted Tata Deferred to TISCO Equity in the ratio of 1 :6 ( Please Recheck ).

( Tisco Equity was then Rs. 75 paid up. Much later, a 1 : 3 Bonus was declared and share holders received stickers . to be put up on the share certificates." that the face value is increased from Rs.75 to Rs 100 " )  

Personal Note

( I am a 3 G Investor. My late Grand father , was allotted , around 1962 , in the Public Issue , shares of Kirloskar Cummins Ltd. Rs 100 paid up ( Now , Cummins India, Rs. 2 paid up ) 


Conversion of Tisco Deferred to Tisco Ordinary

In 1950 51 , under JRD Tata , Tisco referred the issue of a  just Deferred - Equity  exchange ratio to the Attorney General , Motilal Setalvad, who in 1953 recommended a ratio of 1 : 6.



please , also read

Cement Brands and College Days ( 1975-80 )


1 comment:

Ashwani Kumar Aggarwal said...

n 1960 s , RIL did not mean Reliance Industries Limited.

It stood for ROHTAS INDUSTRIES LIMITED. ( of Ram Krishan Dalmia group ).

I remember my college days in Delhi ,in late 1970 s when I used to come in a Three Wheeler from New Delhi Railway station to St. Stephen's College via Filmistan Cinema ( Opp DCM Mills )and Hindu Rao Hospital . In between we passed through Old Subzi Mandi. Around old Subzi Mandi there was a building on which was etched , probably , in cement an advertisement -