Two that dropped

In the midst of this magnificent bull-run, we'd like o talk about some stocks which have primarily been on a downslide. We have here two such stocks whose prices have moved southwards during the period May 2004 to August 2005. Though their prices had dipped very low sometime during Mar and April 2005, but they are on a recovery path now. Neither of them have anything else in common, they belong to different industries with no relation to each other. Datamatics Technologies In May 2004 there were as many as 21 funds invested in the stock, holding more than 33 lakh shares. Within a span of two months funds started shedding their holdings in the stock. Sundaram Mutual, which had the stock in the portfolios of three of its funds, sold off its holdings completely in June itself. On the other hand, Prudential ICICI Mutual added the stock to three of its fund portfolios namely: Prudential ICICI Balanced, Prudential ICICI ChildCare-Gift and Prudential ICICI Tax Plan. By the end of July 2004, the stock price fell further and two funds from Franklin Templeton moved out from the stock. During August and September the investment in the stock grew marginally. HDFC Mutual Fund and Reliance Mutual added more than 2 lakh shares each to their existing holdings. Consequently, the investment in the stock grew to over 36 lakh shares as on September 30, 2004. But in October, the price fell up by a massive 14 percent. This triggered a re

This article was originally published on November 16, 2005.