What would you call this scenario where GTL Group Share prices plunge shockingly,and without circuit breaker protection, in a single BSE trading session on huge sell offs…and that too without any rights or bonus or split or capital reduction adjustment
GTL Group Shareholders Wealth Destroyed in minutes….Murder or Suicide….both waiting to happen ! ?
GTL dives 62.40% to today’s close of Rs 127.80 from Previous day close of Rs 339.90 !
GTL Infra dives 43.27% to today’s close of Rs 16.85 from Previous day close of Rs 29.70 !
I’ve never liked the GTL Group…largely because of Serious Corporate Governance Issues involving the Promoter in the 1990s…..have repeatedly warned Clients not to get tempted by this Group and not to therefore Invest in it……the past could be a good source of a potboiler
And today in just one single trading session, GTL and GTL Infra just evaporated by over 60% and 40% respectively on huge sell offs
Company is aware but not aware !…and for the record states it is not involved and Promoters,the Tirodkars have not sold any shareholding and this includes even those shares ‘officialy’ pledged…clarifications to this effect have come in instantly to the exchanges and on the media Channels today
Then what the hell caused this collapse ! ?….obviously the huge sell off….Traded Volume on BSE was 4.58 crs of shares for GTL Infra against a two weekly based daily average of under just one lakh shares….while GTL notched a volume of 2.22 crs against less than under 50000 daily average
So who sold ?….and why ? …..should be easy to find out those who offloaded so heavily….were these unofficialy pledged shares controlled by the Promoters ?….SEBI needs to get quickly reactive here and investigate…..and not take company clarifications at Face value !….Sanctity of our Markets and Investor Protection are prime objectives here
Whatever !!!….seems the Ghosts of the Past have caught up !….just stay away from the GTL Group unless you revel in shivering thrills and chills in being invested in haunted scrips ! …or unless you are Corporate Governance Issues agnostic and look at this plunge as a great opportunity to enter and make some monies as GTL Scrips revive !
GTL for me stands for G-ot T-otally L-ynched….GTL Group Shareholders don’t know what hit them today !
Added after 9.30 pm same day