The company is expected to float a series of privatisation funds of Rs250 million to Rs3 billion depending on the general capital market conditions and the weight of the companies that are to be offered for sell-off. NIT experts expect a return of around 12 per cent through the fund that would require a seed capital of Rs250 million. When asked about the reasons behind a delay in the launch of the proposed funds, taking up the NIT by stock market participants including brokerage houses non-seriously how could he termed NIT progress satisfactory in the first quarter of 2001 despite dismal performance of the stock markets. It's laborious and we are working on the plan. For the last 40-45 years, NIT has not introduced any venture and remained confined to registered and unregistered units only.
Stock investors go for quick money which is always very risky.
We operate as a long-term investor. NIT has longer-term interest and perspective. Therefore, the daily fluctuation of the stock market is not exactly so relevant to us. The performance of a company is linked with its net sales and our net sales are going in a very positive direction. Similarly, on the assets management side, we are generating fairly good resources through our stock market operations.