After losing 97% of his money two decades ago while trading in stocks, Patu Keswani learnt to never bet the bank. And more importantly, to always have a Plan B, Plan C and Plan D. But sometimes, all your contingency plans cannot make up for the disruption unleashed by a pandemic; especially, if it spooks the biggest influencer. For Dalal Street, it is foreign institutional investors. They have always swung the momentum with their hefty dollar investments. While their presence can attract more cool kids from the neighbourhood, their spurning can burn. So, when they sold nearly $8.5 billion worth of equity in March and April, many — including mid- and small-caps — were left bruised, with their valuations completely decimated. None of Keswani’s plans (B, C or D) seemed to have worked.
Is Patu Keswani's back-up plan hospitable enough?
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