Hey readers, how many of you are left crest-fallen with the listing of the Reliance Power?? I am sure many of you are left holding your heads in your hands; with Reliance Power listing @ 430 (vs. an issue price of 450 and a listing price fixed @ 610), experts, investors and first-timers alike are left wondering as to what to do!
I have read a lot on this issue and in none of my readings did any expert expect the issue to list below 525!! Yes, the minimum premium for the shares was Rs. 75 and that was supposed to be a PESSIMISTIC ESTIMATE!! The energy shares have not taken to the listing all that kindly; last checked, both Reliance Energy and Tata Power were trading 5% lower.
However, after listing @ 430, Reliance Power seems to have made some sort of a recovery, with the shares now trading @ 450. One can only hope, pray and keep fingers crossed that the stock closes above Rs. 500 today. A close above 500 would not only make Ambani Jr the richest Indian on earth, it would also signal that maybe, just maybe, there is some light @ the end of the tunnel!!
After the events of the last fortnight, I hope none of you are left wondering over why this site is called the "The Sensexxxational Ride"!! ;-) Abhi picture baaki hai mere doston, hang on!! :-D
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