New Delhi, Oct. 11 -- Invest in what you know," is a mantra Peter Lynch is well known for, although the famous investor and mutual fund manager has clarified that the above simplistic excerpt misrepresents his philosophy for stock-picking (on.mktw.net/2ogO3vU).
From the looks of it, the broad advice is held dearly by Indian investors. They turned up in droves to subscribe to the initial public offering (IPO) of Indian Railway Catering and Tourism Corp. Ltd (IRCTC). The company effectively has a monopoly as a booking platform for railway tickets, and is a business that is familiar to most Indians who invest in stocks. The high brand recall is a big reason the IPO evinced such high interest, say analysts.
In all, the IPO was subscribed 112 ...