Wednesday, June 11, 2008

Update on Tata Motors Purchase of June 10,2008

If you folks remember, I had told you that I bought Tata Motors stock at Rs. 512 on June 10, which is yesterday. And today, till 11.50 am, and the markets will close at 3.30 pm, the stock opened at Rs. 517 and went on to make a day's high of Rs. 529.70,which is Rs. 17.70 or 3.75% above my purchase price in the course of a day. But I am not selling it now. I just wanted to show you the kind of profits that could exist in the stock markets. Even if you take out the brokerage costs of 1.2% buy+sell, you are still left with 2.5% profits for a day.

Attractive, isn't it?

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