A/N: Hey there! :D Here's the next update! :D :D
15th December, 2000:
Finally, the Christmas holidays are here! I could not have been happier that I was going to have a three-week break after a tedious time at school. And it's not just that. Ishaani tells me that there might be a family trip to Manali by the next week. If I am lucky, Mota Babuji might take me along as well. Isn't that brilliant? Manali! Snow! Yaaay!
But there's been a spell of brilliant happenings around here these days. And you just won't believe what happened today! Mota Babuji took me to the BSE building! Like actually took me there! You have no idea how amazing that was! But that's not even half of it! Oh my... If I tell what we did today, you'll be totally blown out of your mind! Like really, really blown out!
So today, Mota Babuji was having breakfast when he suddenly asked me whether I was free. I told him that I had to do my chores for the day, but he quickly assured me that it would be managed if I would like to accompany him to his work. The request was so unusual that even before I could think about it, I heard myself saying a yes. I mean, how can anyone pass up a chance of accompanying Mota Babuji for 'business'? It would be stupid.
So at exactly half-past eight, we left home and sat in the royal BMW while Mota Babuji had a prolonged and serious discussion on the phone about buying something called 'shares'. I had heard the term in the passing but I did not have an exact idea about what it exactly meant. Luckily or unluckily, we were stuck in so much traffic today that we nearly sat stationary for half an hour in the car. But that half an hour was time well spent.
Mota Babuji got off the line and turned to look at me, a smile instantly crossing upon his genial features. I think I was staring at him in silly excitement, but the smile only broadened upon his face at my enthusiasm. He patted my cheek lovingly before questioning me.
"Have you ever heard about the term 'shares'?
"Yes, but I don't exactly know what that means," I replied truthfully, wondering what was in store for me now. Mota Babuji nodded his head.
"No problem, I'll explain it to you," he began, catching my attention immediately. "In financial markets, the shares offered by a company are a portion of ownership offered by a particular company in return for money, or capital as its technically known. With me so far?"
"Wait, um, to summarize what you just said, shares are pieces of ownership offered by a company to increase their funds. Is that right, Mota Babuji?" I asked tensely, hoping that I made sense. He gave me a broad smile.
"Perfectly put."
"Why do companies do that?" I asked, now genuinely interested.
"They do that because it helps accumulating capital faster for setting up and/or expanding any business. Public money can always be raised quickly because it's a two-way purpose. The public find a source of investment if the company has got good prospects and the company gets capital, thereby diluting their risk of investing personal capital in the business since banks don't sanction such high loans for start-up companies or even the small-capital ones. So the companies promise the public profits on their investment and the public increases the net worth of a company in the markets by way of investment," explained Mota Babuji and I couldn't help but be awestruck.
"So do all companies have shares?" I questioned, a little more eagerly this time. Mota Babuji regarded me lovingly.
"Initially only the major ones did, but now almost all of them do. The trend is definitely picking up since companies are getting bolder and bolder in their approach."
"Does your company have shares too?" I asked and he gave me a tender smile.
"Brokerage companies cannot issue shares, Ranveer. But if I am to be honest, I am a little orthodox in this aspect even though I can brag of being a bold businessman otherwise," joked Mota Babuji and I chuckled.
"But why are you telling me about this, Mota Babuji? I'm just a ninth grade student," I reminded him, confused about what was happening.
"A ninth grade student with an exceptional understanding of numbers," he corrected me immediately and I smiled shyly. "I just wanted to see whether you like this. Are you interested with whatever I've told you so far?" he asked tentatively and I nodded my head with zeal. "Good, because this is my job," he added comically, eliciting a gasp out of me. Ofcourse! That's why the term was so familiar! Mota Babuji was an expert in shares! This is what he does for a living!
I gave him an excited look and he continued further.
"You see, I, or rather my brokerage company to be more accurate, deals with the trading of shares at the stock market. Let me make it simple for you. Like I told you, major companies have shares. These shares are listed at various stock exchanges across the country. A stock exchange is a place that keeps track of all the companies having undertaken public money and hence allows active buying and selling of shares. We have twenty four of them in our country - twenty regional and four national. We trade at the Bombay Stock Exhange, our country's biggest and oldest trading platform. You can buy the shares at a reasonable price, wait for the time to get right and then sell them at a good price if it yields you good profits. Simple business trading, you see," he explained with an ease that made it all seem like butter. But I knew that it must be much harder than that.
"Is it that simple?" I questioned and like expected, he shook his head, amused.
"Nothing missrs your keen eye now, does it? No, it isn't, I've just given you a simple picture. It's much more complex than that," he replied and I silently agreed with him.
"Who decides the prices of the shares?" I asked and Mota Babuji's response instant this time.
"Initially, a company issues their shares at a quotation price known as book building. Its a range of prices a company sets in its first offering or Initial Public Offering as its known, and the investors bid a price. On the basis of the average so decided and number of shares so bought up against how many have been offered to the public in the first place, the prices are decided accordingly when listed upon the markets."
"Does the final price always remain in that range?" I questioned, now understanding a little more about how shares worked even though I was far from touching its surface still.
"No, it can be above or below the range price as well depending upon the demand and reception. Based on the demand it has in the market, the internal and external factors, and on how well business is being conducted, the prices then increase or decrease in the future constantly. This fluctuation is valuated as a whole on the indices the company is listed upon. Indices are basically sectoral or thematic segregation of companies and tracking their performances based on trend analyses and reocrding their price fluctuations in a constant 52-week watch out," answered Mota Babuji and I heard him with rapt attention, afraid that if I dared to zone out for even a minute, I'd miss out on some crucial information or the other.
"But there must be an overall index then," I remarked hesitantly and Mota Babuji looked impressed, to my relief.
"Yes, that's the Interconnected Stock Exchange that monitors all the other stock exchanges as a virtual body. But the two determining indices for our economy are two - BSE's index that gives a detailed growth analysis on the market capitalization of the Top 30 companies listed on the BSE across all sectors, and the National Stock Exchange's Nifty 50 that considers the Top 50 companies, like the name suggests. We mainly track the SENSEX though since its the oldest index and gives an overall understanding of how well the companies listed on the various stock exchanges have performed on the whole in terms of finance. The higher the index goes, the more roll-in us traders have and more stable the financial market gets," he explained smartly, and I nodded my head in acknowledgment.
Somehow, this point was easier for me to understand because I did come across this term a few days ago and had done some senseless reading into it. Thankfully, it paid off atleast for now. But before I could say anything, Mota Babuji added on.
"You'll get a better idea of it once we reach the place. It's going to be fun for you."
"But wait, you didn't explain about your work," I stated suddenly and he chuckled a little.
"Oh yes, my bad. I'm a middle-man, you see. I buy and sell shares daily. It's known as intra-day trading and it's legal. Mind you," he added seriously. "-it's a very complex job because the stock market is like a casino. You should know how to gamble and bluff. It's only if you are a natural and can predict the direction of the different prices of stocks in spite of the unpredictable situations of the market that you are a true player."
"Wow!" was all I could exclaim enthusiastically while he smiled.
"Any more doubts?"
"Yes," I quickly replied, feeling a mixture of awkwardness and embarrassment. "Are only shares issued for companies? Or does the stock market sell anything else as well?"
"What makes you ask this?" he asked me curiously and I gave him a shy look.
"I heard you talking about selling bonds and commodities when you were on the phone," I admitted honestly and Mota Babuji let out a bark of a laughter.
"Bravo, Ranveer. You've impressed me already. Yes, you are absolutely right because the stock market, as you say, doesn't deal only with company shares. It deals with commodities, currencies, bonds, debentures and several other market instruments as well. Commodities are precious metals and are traded over the Multi-Commdities Exchange, currencies are traded from all over the world and bonds are another way of borrowing money from financial institutions. Bonds are something I'll explain to you later as it will be hard for you to grasp right now, but just remember this point," he said seriously and I nodded my head. We sat silently for a while before Mota Babuji remarked proudly.
"I'm thrilled to see your interest and aptitude in this. I could not have hoped for better."
I smiled at him, both of us falling silent for a longer period of time this time. I couldn't help but think about the phone call that Mota Babuji was upon and what aspect of the share market were they discussing about. I knew I would be crossing limits if I acted too nosy but now that I had a taste of it, I could not resist. Finally giving up on the painful battle, I asked Mota Babuji the question I'd been wanting to ask him.
"Mota Babuji, can I ask you one thing?"
"Go ahead, son," he replied and I gave him a flustered look.
"What's Reliance Petroleum? And why were you sounding so grave on the phone? Is everything alright?" I asked with concern. Out of the corner of my eye, I could feel Baba tense up while driving. But Mota Babuji was as cool as ever.
"Oh don't worry about that, son. Everything's fine. And Reliance Petroleum is a company that deals with purifying petroleum sources and selling it," replied Mota Babuji, letting me know more about the company while I give him an inquisitive look.
"Is this company listed upon the stock exchanges too?"
"Oh yes, it is," he replied quickly. "In fact, it's one of the most reputed and profitable companies on the exchange list. Mr. Ambani has receives so many awards for being such an influential personality of the decade. And the contribution that Reliance has had in bringing up the SENSEX to 6000 points this February is outstanding."
"I've heard a lot about Mr. Ambani," I sighed in a dream-like voice. Who hasn't heard of him?
"Ofcourse you have, you are very well-read for your age," remarked Mota Babuji and I felt myself go red. To avoid getting awkward, I ploughed on quickly.
"So, are you going to buy shares of this company?"
"Yes, that's the plan for today," replied Mota Babuji, but I could sense the heaviness in his voice.
"Then what's the problem?" I question him, immediately noticing his worried expression. Mota Babuji looked me unsure for a moment, before sighing and giving me the whole picture.
"It's rumoured that there has been a big gas reserve discovery at the Krishna-Godavari basin. That's a remarkable find for any company dealing in Petrochemicals. Anyway, we know that the strike attempts have been going on for so long and that there have been several failed attempts at it earlier because of which the stock prices have fallen down drastically. The problem here is that we don't know whether to buy the shares now or no because they can either be completely useless or else those shares can go sky-rocket high in case we get the confirmation by the end of this week about the strike."
"What are the shares trading at?" I asked intuitively, an idea suddenly formulating in my mind. Mota Babuji gave me a puzzled look but answered nonetheless.
"202 currently."
"And how many shares would you buy?" I questioned further, piquing Mota Babuji's interest as well.
"Around 50000," he replied once again, still looking bewildered. The solution so readily sat in my head that I wondered whether I was just being stupid or I'd actually understood the crux of the situation. But either way, I put forth my solution.
"So why don't you buy 25000 shares of the same?"
"I don't get you," began Mota Babuji, but somehow in spite of him telling me that the stock markets were a very complex thing, it was all too simply laid out in my head. I sighed, phrasing the whole idea in my head neatly before presenting the same to him.
"You say that it's a gamble anyway, so you can buy half the amount of shares and keep them with you right now and wait. If you think it's going to be a loss, sell it after some time and minimize your losses. If it goes sky-rocket high, you'll hit jackpot anyway, although lesser than what you originally intended," I added, not knowing what I hoped.
The moment I spoke so valiantly however, I realized how stupid I sounded. Why would Mota Babuji even listen to a servant like me, who was no less a kid? But before he could say anything, we reached the building. Or to be more precise, the premises of the Bombay Stock Exchange.
I'm not even in the slightest exaggerating when I say this, but never in my life have I seen such grandeur and strangely enough, a place being run in such chaos and mayhem at the same time. Once we went up the lift, Mota Babuji found me a comfortable spot where there was no risk of going deaf or getting trampled by people while Mota Babuji headed straight into the elegant warfare.
The next six hours of my life may have perhaps been the most confusing yet knowledgeable one. Never have I seen money flowing in and out so quickly or the amount of ways in which it was being traded in. At the stock market, money can actually flow faster than water and among all the loud bawling of several stock brokers trying to make a fortune, I actually managed to catch up on lots of things.
Like for instance, there are three or four more indices apart from the normal SENSEX and something known as equity derivatives have been quite the market craze ever since it was introduced in June. That's something I still have no clue about but never mind, there's loads more to focus on. The best of it all? I think I got the hang of how the intra-trading actually takes places!
It must be the most exciting thing I've ever seen in my whole life and there was a time where I thought that Mumbai's sightseeing was the best. All through the time, I've only been able to catch the several companies with either the term 'buy' or 'sell' and the number of shares, each voice getting drowned by the wave of several other ones. So it wasn't entirely a surprise when Mota Babuji came up to me at exactly 3:30 in the afternoon looking tired but jubilant nonetheless. He mouthed the word 'break' and I nodded my head, feeling at a complete loss to say anything.
"I... bought the 25,000 shares... at the right time," he says, slightly breathless. "The shares dipped to 200 before it jumped up to 207 again. Currently it's trading at 208."
And just like that, I remained stunned. Mota Babuji had not only paid heed to my advice but had actually gone through with it! I only stared at him dumbfounded before the bell went off again and Mota Babuji left me once again, quickly whispering that he would be back in another twenty minutes. What happened in those twenty minutes are a blank to me because I was still reeling from the shock of what had just happened. Was this some kind of test that Mota Babuji had put me through? What if the shares wouldn't perform? Would he be angry on me then? I was so absorbed in these questions that I did not even notice when he returned back.
Snapping his fingers at me to bring me back to my senses, I looked at him and smiled while he thumped my shoulder playfully.
"Today was a good day, son. Today was a good day."
I only managed to nod my head at him as Mota Babuji led me back out from the exchange, several onlookers looking at us curiously. Suddenly realizing that this might very well be the last time that I may get to visit the place, I took in its sight greedily, my heart still unwilling to leave the place. It was as though I was meant to be here. Somehow, the journey to the car seemed much shorter and before I knew it, I saw Baba bringing the car to the end of the gate.
The two of us took our seats and the car revved up, finding the road even before I could take in the last fading site of the stunning structure. Mota Babuji got into a telephonic conversation once again while Baba drove on silently, a smile on his face. I ultimated settle to look out from the window. Today was comparatively warmer than the previous week of abnormal chill and I preferred this any day. I'm more of a summer's person, you see (yeah, I love the thought of snow, but still). Ishaani is the winter girl between the two of us.
I did not realize when Mota Babuji got off the phone but it so happened that the two of us turned to look at each other at the same time.
"So, how did you like it today?
"Today was great... I loved it!" I confess sincerely, a goofy smile plastered upon my face now. He ruffled my hair lovingly.
"I love the interest you showed today," he said in a relaxed voice and I decided to ask him another stupid question since his mood was so good.
"Can I ever come back to this place with you again?"
"Ofcourse you can," replied Mota Babuji swiftly, giving me a broad smile. "Infact, I was planning on getting you here atleast thrice during your vacations. I would have brought you more often than that but things get messy at the exchange."
"Thrice is more than enough for me," I reply in an overwhelmed voice.
For a person who believed that this was an once-in-a-lifetime thing, this was like getting a packet of samosas with chutney free. But with the thought of free chutney, I suddenly remembered what Mota Babuji had told me at the Exchange and I decide that since we were having such an honest conversation tonight, I might as well speak my mind. And that I did.
"Can I ask you something?" My voice was rather meek, but Mota Babuji nodded his head nonetheless.
"Ofcourse you can."
"Why did you buy the Reliance Petroleum shares?" I asked, hoping that it didn't sound rude or demanding. Thankfully, it didn't.
"Because I gave your explanation good thought and decided that you had made a very valid point," he replied simply, not bothering to give any further explanation.
"Is this some kind of test that you are taking of mine?" I voiced aloud, worried that my fears may be true, even though they did sound rubbish in my head as well. You see, a part of me was proud of myself but the other part of me hated feeling that way. One must always remain grounded.
"No," he replied back, now leaning a little straighter and looking at me more closely. "Ranveer, what's going on?" he asked me finally, noticing the conflict upon my face perhaps. I looked at my shoes, speaking to them instead.
"You listened to me," I whispered stupidly and out of the corner of my eye, I could see the confusion evident upon his face as he questioned me back.
"So?"
"It isn't right, Mota Babuji. You shouldn't take advice from me. I'm just a servant," I gritted out grudgingly, suddenly angry at myself for forgetting my mother's advice about remembering who I was to be by the end of the day.
"So? What do you want to say?" asked Mota Babuji, suddenly stern. But even that didn't intimidate me today as I spoke further.
"I'm a servant."
Mota Babuji remained quiet for several minutes before his eyes bore into my own at long last. The intensity of his gaze made me shiver in spite of myself. My eyes darted ever so slightly in Baby's direction to notice that he'd gone stiff as well.
"Son, let me tell you an interesting story. Are you willing to spare some time for it?" he asked, and I'll admit that it did take me offguard. But I nodded my head nonetheless. He continued.
"My father owned a tea stall when I was a child. A chaiwala, to be more precise. He didn't even have sufficient money to buy me my text books for school. I came from a backward class family who were only Brahmins just for namesake, and I think that was the only saving grace. I never knew what money even was till the age of 15, when I met Sanjeev Zaveri. The two of us bonded over our poverty as we watched the rich only make their children ignorant about the privileges they had while we knew what every penny meant. But that also meant that we had something that they did not - the passion to succeed and write our own future."
"What happened then?" I asked and he continued as though I'd never interrupted him in the first place, the look in his eyes distant as though he were reliving the memories of those olden days of struggles.
"The two of us had our Maths teacher who was very fond of us since we were both his best students in the subject. He used to deal with the stock markets. Since neither of us had much material to practice sums upon, he'd call us over to his house and lend us books and teach us for free. He was a great man, our teacher. The true definite of what a teacher is meant to be. And as Sanjeev and I would sit and solve sum over sum relentlessly, we'd see him deal with the stock markets and numbers. And being the curious lads we were, we finally took the guts to ask him one fine day what it all meant, intriguing as it was."
"What did he say?" he asked once again, and he gave me a soft smile.
"Sanjeev was honestly convinced that he'd be mad at us but I definitely had that crazed urge to quench my thirst for answers. Sanjeev always said that I was ever curious and vibrant about the joy of learning. Our teacher looked at both of us keenly, and maybe he saw just how genuinely interested we were in knowing about what the stock markets really were. And so he sat us down and taught us the whole thing with just three thumb rules that have neither gone wrong for Sanjeev or myself till this date."
"What were they?" I questioned inquisitively and Mota Babuji leaned forward, as though giving away his most confidential secret away in a whisper.
"Buy low, sell high. Observe all, but always trust your instinct when you buy or sell. Always risk not more than 60% when buying or selling," he replied and I nodded my head in rapt attention.
"Oh yes," continued Mota Babuji with a fond smile upon his face. "-these were the three singular thumb rules he taught both of us before giving us the general idea about how the markets worked basically. It was all so fascinating and interesting... I remember all those nights when Sanjeev and I would sit underneath the streetlamp and formulate ideas upon ideas upon how we'd make our fortunes with the stock markets and become rulers of our own territory. It was all silly talk back then. We'd both have to be complete idiots to have actually have believed that it would become true one day. And maybe somewhere deep down, it did."
"What happened next?" I asked, unable to resist.
"I had to move to Mumbai because my father thad passed away by then and Baa had lost all our property in the mortgages. Sanjeev had also lost both his parents by then and since he had no siblings, our teacher undertook the responsibility of his education. He'd just lost a son so he funded for Sanjeev's education in Australia. For me, he trained me my sending me to the BSE, my own skills sharpening and honing itself until it made me reach where I am today with nothing but the most painstaking amount of resourcefulness, determination, hardwork and the desire to achieve my dreams. And through those years of incomprehensible struggle, I learnt yet another thing."
"What's that, Mota Babuji?" I asked, and he replied only too willingly.
"Always trust your instincts, Ranveer. It'll never guide you wrong."
I let his words sink in for some time before I mustered the courage to speak what I was about to.
"But that's the thing, isn't it? Is my knowledge any good, really? No matter what I do, at the end of the day, I'm always going to remain a servant. At the end of the day, my knowledge is only going to be restricted to doing household chores."
"Who said so?" he boomed angrily while I cowered under his glance, heavily stammering. He disregarded it, speaking now in a very grim voice.
"Listen to me very carefully, Ranveer. Just because you have been born into circumstances that aren't bright, it does not mean that dreaming about the moon is a sin. More often than not, you wouldn't believe it but the moon is attainable. When I was your age, even my financial condition was the same, and I even had to look after my younger siblings and had to carry my mother's business on my shoulders. It wasn't pleasant to leave school like that or to be laughed upon by my friends for being poor, but the one thing that I never let go off was knowledge."
"You're right Mota Babuji... I don't know why, but I just-" was all I could push out from upon my lips, but even before I could complete my statement, he cut me again.
"Always remember that knowledge sees no social status nor caste nor creed nor religion. Knowledge was made so that we could evolve. And who ever said that you are going to remain a servant? Ranveer, I don't know much about anything else, but I'm going to educate you as well as the other kids of the house. Take that on a stamped piece of paper or not, this isn't going to change. Nobody can control the conditions that you are born into, but nobody has ever restricted you from exploring your future for that is entirely yours."
"Is it wrong to dream of becoming a big man, Mota Babuji?" I wondered aloud to him suddenly, finally wanting the answers I'd been denied all my life. Mota Babuji's reply made my day.
"Ofcourse not. It's only if you dream big that you actually achieve your dreams. Few have the courage to do so, but those who see their dreams through to the end, those are the ones who emerge victorious. When I started off, I had no money and people scorned at me. Today, the same set of people revere me. Today you may think that you are only a servant, but tomorrow, you'll be a big man, you see. Mark my words, your destiny has been written for greater things. You're sincere, humble, hardworking, honest, loyal, dedicated and above all, a smart and sharp young man - what more do you need?" he adds gently as he cupped my cheek with loving grace.
I shook my head, trying to hide away the tear that fell from my eye.
"I feel so afraid at times when I dream, Mota Babuji... it is like dreams were never meant to happen," I whispered softly, the fear in my voice resonating around the car. Mota Babuji smiled in understanding, his voice now kind.
"There's a thin line between dreams and probable reality. Always remember one thing, what goes around, comes around. It's nature's rule. Speaking of nature, you'll be coming with us to Manali for a week. Is that alright?" he asked, suddenly looking at Baba, who was silently listening to our conversation with tears in his own eyes. Baba nodded his head.
And I hadn't even realized that we had reached home by that time. Mota Babuji got down from the car and walked ahead of us and entered home first, only to be ambushed by an eagerly waiting Ishaani. I entered behind Baba, Ishaani giving me a vibrant look the moment our eyes met. And the happiness that radiated from her face reminded me about the moon in that moment. I remembered Mota Babuji's words and returned an even happier smile to her that left her looking puzzled for a moment, but she held my hand and redirects me towards my room nonetheless. She hammered me with questions about how my day was in a nonstop flow of words and yet all I could do was sigh contentedly.
What goes around will certainly come around. And one day, I would certainly make the moon mine.
Constructive criticism will be more than welcome and sorry for any typos! :D :D
Next chapter:
Epistle 26
Rihana, yearning to break free from the predetermined fate of being a tawaif's ...
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