23 April, 2021

From Steel To Stocks

Moving to trading equities to stave off lockdown penury called for nerves of steel, but this Gujarati businessman has learnt a few lessons from the experience.

Shah Family, Sangli, Maharashtra
From Steel To Stocks
outlookindia.com
2020-11-27T13:31:08+05:30

Smitesh Satish Shah, 41, was a businessman, who dealt in building materials—steel, cement etc. After the long lockdown from mid-March, his work came to a standstill. As construction activity in Sangli halted, Shah had to shut shop. However, being a die-hard Gujarati, he did not give up. He experimented with stocks, though he had limited exposures to them. Luckily, he moved in at the right time. The markets were down, largely due to sustained selling pressure from foreign investors in February-March. This implied that most of the blue-chips were available at throwaway prices. In the initial days, Smitesh decided to become a day trader i.e., an individual who buys and sells on a daily basis.

He roped in his wife, Sneha, 39, father Satish Ramanlal, 65, and mother Rekha Satish, 60. Thus, the entire family moved lock, stock, and barrel into equities. What’s more, Smitesh gave Rs 10,000 to his 10-year-old son to play the stocks, though he kept a close vigil. “He invested wisely,” says the proud father. The family’s combined experiences, however,...

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