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The market surged in opening trade as US shares were buoyed on Friday, 23 November 2007, by a strong start to the US holiday shopping period. Short covering ahead of the futures & options expiry this Thursday, 29 November 2007 and fresh buying at lower levels kept market buoyant. Asian markets were firm.The markets are trading in green with hefty gains but are marginally off the day's high. Strong cues from Asian have helped markets in this uptrend.
At 12.45 hrs IST, the Sensex is up 338.58 points or 1.80% at 19191.45, and the Nifty up 112.30 points or 2.00% at 5720.90.
Reliance Industries gained 1.80% to Rs 2864. The company has sold 4.01% of the equity share in its subsidiary company Reliance Petroleum (RPL) by transactions through the stock exchanges. The aggregate sale consideration is Rs. 4,023 crore and post-sale RIL’s stake in RPL has come down to 70.99% from 75%.
Reliance Petroleum was up 0.67% to Rs 210.90 on huge volumes of 1.15 crore shares on BSE.
India’s second largest telecom service provider Reliance Communications moved up 1.83% to Rs 694.50. The company reportedly plans to sell another 5% stake in its wireless tower business in the second such transaction in this calendar year.
Sadbhav Engineering moved up 2.23% to Rs 1082.20 after the company received road development projects worth Rs 99.01 crore from the government of Chhattisgarh.
Brokerage firm India Infoline spurted 6.4% to Rs 1190.10 on reports that foreign investors Goldman Sachs and Blackstone are in final stages of negotiations to buy a 26% stake in India Infoline Distribution Company, a distribution subsidiary of the brokerage.
Ceramic tiles maker Nitco Tiles soared 8.77% to Rs 310 on reports that leading foreign investors Lehman Brothers, Citigroup, Merrill Lynch, Deutsche Bank and Reliance Capital have picked up a total 15% stake in the company for around Rs 170 crore.
Balaji Telefilms surged 8.79% to Rs 364 on reports that the company plans to offload 10% to 15% stake in its wholly owned subsidiary Balaji Motion Pictures.
At 12.45 hrs IST, the Sensex is up 338.58 points or 1.80% at 19191.45, and the Nifty up 112.30 points or 2.00% at 5720.90.
Reliance Industries gained 1.80% to Rs 2864. The company has sold 4.01% of the equity share in its subsidiary company Reliance Petroleum (RPL) by transactions through the stock exchanges. The aggregate sale consideration is Rs. 4,023 crore and post-sale RIL’s stake in RPL has come down to 70.99% from 75%.
Reliance Petroleum was up 0.67% to Rs 210.90 on huge volumes of 1.15 crore shares on BSE.
India’s second largest telecom service provider Reliance Communications moved up 1.83% to Rs 694.50. The company reportedly plans to sell another 5% stake in its wireless tower business in the second such transaction in this calendar year.
Sadbhav Engineering moved up 2.23% to Rs 1082.20 after the company received road development projects worth Rs 99.01 crore from the government of Chhattisgarh.
Brokerage firm India Infoline spurted 6.4% to Rs 1190.10 on reports that foreign investors Goldman Sachs and Blackstone are in final stages of negotiations to buy a 26% stake in India Infoline Distribution Company, a distribution subsidiary of the brokerage.
Ceramic tiles maker Nitco Tiles soared 8.77% to Rs 310 on reports that leading foreign investors Lehman Brothers, Citigroup, Merrill Lynch, Deutsche Bank and Reliance Capital have picked up a total 15% stake in the company for around Rs 170 crore.
Balaji Telefilms surged 8.79% to Rs 364 on reports that the company plans to offload 10% to 15% stake in its wholly owned subsidiary Balaji Motion Pictures.
Labels: Nifty.Sensex
posted by SY at 1:17 PM
2 Comments:
Reliance Industries announced last Friday sale of 4% equity in Reliance Petroleum Ltd. at an average price of Rs.223 per share.
These sales were made between November 10 and November 23,2007.
Interestingly just one week prior to RIL (owned by Mukesh Ambani) selling the shares, an unknown group of people bet their shirts on a fall in Reliance Petroleum’s share price, in a magnitude never seen before in Indian stock markets.
Between November 1 and November 6, 2007, this group made short sales of 10crore shares of Reliance Petroleum in the futures segment of National Stock Exchange.
These short sales were made at prices between Rs.275 and Rs. 295 per share.
These numbers are based on official data published by NSE.
The value of these short sales is an unprecedented Rs.3,000 crores approximately.
This group of persons has made a cool profit of approx. Rs 1,000 crores in less than a month, because the Reliance Petroleum shares have now crashed from Rs.295 to Rs 195 per share!. These guys have made Rs.100 per share.
Who are these super smart traders? Are they smarter than even the smartest businessman in India, Mukesh Ambani??His company, RIL, sold the shares at Rs.223 per share but these guys sold at Rs.275 to Rs.295 per share.
I had written comment yesterday and today all this is in newspapers. The government has realised all this fraud and news has covered all this http://www.livemint.com/2007/11/27211828/Reliance-Petro-scrip-under-Seb.html?atype=tp
http://www.financialexpress.com/news/Smart-operators-in-RPL-futures-make-a-cool-Rs-1-000-cr/244312/
I think you also should write about all this fraud.
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