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Greater Fool Games continue in the Indian Stock Market as another small cap IPO gets Pumped

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The Indian Stock Market is seeing a lot of Fun and Games as Market Operators have pumped up another small cap IPO Prakash Steelage by over 100% in the 3 days after listing.Note this is the same company which had its promoters convicted by India’s Tax Department for Hiding Profits and had to ultimately pay a huge penalty.The day of the listing saw huge volumes as funds  and individuals  bought and sold large lots.The Greater Fool Theory is being practised here as the fundamentals of the stock can’t justify the stock price.This is not the first time as the same thing has happened in the case of Midfield Industries and Aster Silicates as well.While Aster Silicates has been dumped and forgotten,Midfield stock is still being played around with.

There is no good way of shorting Prakash Steelage stock otherwise it seems a sure shot money making opportunity.What is funny is that mainstream media websites have described  the stock glowingly as a multibagger.More reason than ever to strictly avoid mainstream financial media.These IPOs have become a fertile gambling ground with the dice loaded in favor of the promoters and connected market operators.Retail investors get sucked in not realizing its a “Greater Fool” Game with the whole purpose of making them the Greatest Fools.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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