Had indicated on April 4,2013 and later in an addendum on April 8,2013 that RCom had little downside and would move up ~ It was Rs 65 on April 8,2013 and touched Rs 100 + inside a fortnight today !
Wednesday, April 3rd, 2013
Reliance Communication on Fire Today ! Opened at Rs 87.10 and touched a High of Rs 100.05 on BSE ! ~The Share Price simply began zooming past Rs 90 on heavy volumes after 2.30 pm to reach Rs 100.05 on BSE ~ As we close NSE Volumes are near 61 million while BSE Volumes have crossed 17.3 million from under 7 million at 2.30 pm with Average Trading Price over Rs 92 ~ Last Tdae on NSE was at Rs 97.75 and on BSE at Rs 97.45
Don’t Chase the Story and Play the Game where the remote control is not held by you ! !
But why were upper circuits revised twice from 2.30 pm !? ~ to facilitate further heavy buying and raising price by Insiders ! ? or to give a chance for exit to those who had shorted !? ~ On inquiring with the BSE Surveillance Department why the Circuits were revised twice after 2.30 pm first from Rs 94 to Rs 99 and then to Rs 103.30 after 2.30 pm ,the guy gave this reason ” because RCom is in F & O there are no circuits !” and on conveying fear that there was clear indication of Insider Trading with orchestrated heavy abnormal buying from 2.30 pm this is what he exclaimed and disconnected ” No ! No! This is all I can tell you!”
Exchanges and SEBI need to investigate…..
Clearly Insiders were at play ! ~ probably they know of a Deal that has happened but yet has to be announced (Read RCom notification to BSE below) ~ They had already began the Integration of Reliance and RCom Teams a year ago before they actually made the announcement for ‘Jio’ as linked above
BSE Website shows this post at 8.18 am this morning
Reliance Communications Ltd has informed BSE that:
“We note recent reports in the press and confirm that Samena Capital, in a proposed Consortium with certain other global PE funds, is at an advanced stage of the process of due diligence and completion of definitive documents in relation to the acquisition of Reliance Globalcom Ltd., our global communications services business unit.
The intended time line for completion is end of May 2013.
At this point, there can be no certainty that this will lead to a transaction. A further announcement will be made in due course, if and when appropriate.
RCOM and Samena Capital are no longer in discussions with Batelco for the purposes of the above transaction.”