So today the market went up by 400 points – many financial services companies went up by a huge number. Hdfc which was Rs. 3000 pre-split opened at Rs. 610…now it is at Rs. 655.
So as is wont….you ask…and they say ‘The financial services industry is booming’.
If you have been in the industry long enough you ask around a little more…..so you talk to HR, Sales, – normally the guys who know what is happening.
Hmmmmm not very encouraging. Distributors are not even picking up calls from sales managers of mutual funds. Life insurance downsizing is to be seen to be believed. People who have not been sacked know they have been LUCKY not SKILLED – and survival is just by fluke. It could have been them. They could have been on the list.
Banks – less said the better. Speak to 4 relationship managers, and 5 CVs land up in your inbox, even if you said you did not do placement. Sadly recruitment, training are all seen as HR functions. So if there is a CV it comes to my mailbox. Sad, I do not open them….
So why is the market up? I do not know…
Can you not see the boom in the financial services industry? Sorry I cannot (I am partially blind I think)
The mutual fund industry is here to stay (well if you have already lost about Rs. 600 crores that is even better) – so you have people trying to talk up the industry. Well..cannot deny the sincerity …God Bless…
Don Quixote any one?
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