What actually happened in PNB scam? Let’s start from the concept.
First, The Concept
Let’s understand how things work.
Some importer, let’s call him Nirav Modi or NM, wants to import pearls or diamonds and then sell them. The purchase requires money, so NM approaches a bank, say Punjab...
I have observed that few large cap stocks are near their book value. Is it good idea to invest in them now? However they are below their SMA 30, 50, 200 etc...one example is PNB.
Please share your views...