Continuing with my Saturday’s blog…Reliance did list at a discount to the “perception price” of Rs. 450 + a premium of Rs. 150-160. It tanked to 390 and then zoomed past 430! So the poor investor who is stuck with the share procured at 430 does not know what to do? I have had people asking me whether to sell Reliance Power and invest it in NTPC. I actually do not know. But I am sure that NTPC is worth more than half of Reliance Power. However I would be committing a huge mistake (sin) of anchoring onto the price of Reliance Power of 450 or to ntpc’s 270. Surely it is possible that both are overpriced…or both are underpriced. However one thing for sure. Markets fluctuate. Secondary or Primary are only routes to the market. “I cannot lose because I only apply for IPOs” or “Primary is less risky than secondary” are myths which had to be killed. My office suddenly came up with a list of share quoting at a huge discount to their IPO price – some quoting at 40% of the issue price. So beware!