Over 2.6 million shareholders retain faith in Reliance Industries despite the clear underperformance over the years
Tum ‘Jio’ hazaron saal,hazaron kay aar paar ? 🙂
Methinks every Indian Equity Investor needs a dose of Rakesh Jhunjhunwala (RJ) every few years! ~ any sooner it could be an Overdose ! 😆 ~ just kidding !
I like the guy ! ~ right since I interacted with him when I invited him around 15 years ago at the turn of this century for interacting in an evening Q & A session with my packed class of @ 90 participants in my Equity Portfolio Structuring and Stock Analysis Workshop at the BSE Training Institute as I thought he would add practical value & he did
FY 16 has been a mixed year for Stocks with Markets on a downward drift with Sensex closing 9.4% lower at 25341
Sensex disappoints in FY 16 as many of the 30 constituents lose big value
Interesting & Heartening to it’s Shareholders ,Reliance has been the biggest constituent gainer at @ 27% while at the other end BHEL has lost half it’s value at 51% ! ~ another 11 companies have lost between @ 19% to 30 % values
Domestic Concerns revolved around second consecutive failure of monsoon in 2015 & slow pace of Reforms & Corporate Earnings Lethargy with growth in single digits despite boasts of GDP Growth of over 7% and lower Inflation and Oil Price falling 40%
Essar Oil Delisting is Over or is It !? ~ Glitch or Golmaal !?
Yesterday at 3.30 pm was the cut off time for all shares to be tendered in the Essar Oil reverse book building on BSE & NSE
The First criteria for the delisting endeavour to be considered successfull is that at least a minimum number of 92,569,408 Shares be tendered in valid bids from the 142489858 Equity Shares being 28.54% of the public shareholding that could
At Closing 3.30 pm on Monday,December 21,2015 BSE & NSE showed aggregate cumulative bids for 101143045 shares
😆 Love the Guy who’s tendered on NSE for just 25 shares at Rs 5630 in the ongoing Essar Oil Delisting Endeavour !
Look at the NSE Confirmed Demat Shares Tender Position as at 3.30 pm this afternoon
Who in their right mind would tender at Floor Price of Rs 146.05 or even below Rs 200 when current market Price closed at Rs 225 + levels ! ~ Yet some have !
Most No of Tenders so far have come in at Rs 240
Last date is on Monday,December 21,2015
Wonder what LIC will be doing with their holding !
Essar Oil sets Rs 146.05 as Floor Price for delisting ~ Current Market Price is @ Rs 210 ~ What will be the discovered price ?
Some Critical Questions yet in the air
SEBI & Essar Group need to clarify on Points 2 & 3 above
In fact SEBI should have only given the green signal for delisting once the Rosneft Deal Price was declared
Check out my below blogposts right from June 2014 where I have strongly raised these issues and more to highlight how Essar Group cares little for Minority Shareholder Interests.