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Hindalco Industries
looking weak
Posted by :
jdosvdTracked by: 1 Boarder
Listen the entire metal space is melting sizeably except Hindalco;this is because of the rights issue it is being artificially held up.Hence GOOD strategy to exit out totally + reject the rights.The script will fall downwards around 50-70 levels when it can be picked up! I did the same with Sterlite;after the cancellation of the "re-structuring" announcement the stock went above 500 when I sold out completely.Now its at 335 giving over 30% gain!Please use correct stratrgies to play in a relentless falling market.Good Luck!...
In reply to:
looking weak
Posted by : stkstudent
For a small retail investor, opting for the rights issue does not carry any meaning, what should be the price for averaging down ? 
looking weak
Posted by : vkk43Tracked by: 1 Boarder
Just wait and watch this scrip next week....
In reply to:
looking weak
Posted by : stkstudent
Thanks a lot. Hope that I am able to catch the right moment. Thanks again.
looking weak
Posted by : stkstudentTracked by: 1 Boarder
Thanks a lot. Hope that I am able to catch the right moment. Thanks again....
In reply to:
looking weak
Posted by : vkk43
Next week, after the right issue is closed, it is likely to come down to 80/85.
looking weak
Posted by : vkk43Tracked by: 1 Boarder
Next week, after the right issue is closed, it is likely to come down to 80/85....
In reply to:
looking weak
Posted by : stkstudent
For a small retail investor, opting for the rights issue does not carry any meaning, what should be the price for averaging down ?
looking weak
Posted by : stkstudentTracked by: 1 Boarder
For a small retail investor, opting for the rights issue does not carry any meaning, what should be the price for averaging down ?...
In reply to:
looking weak
Posted by : vkk43
Further weakness in this share cannot be ruled out.
NSE Announcements on Hindalco
Posted by :
dummyTracked by: 0 Boarder
My heartfelt sympathies for you.
We may never see those levels again.
I also feel stupid that I did not sell at that levels....
In reply to:
NSE Announcements on Hindalco
Posted by : Guest
I have bought 500 shares while Hindalco sold at 204. any idea when I would be able to sell it at that cost again. I dont mind waiting but how long...
Hindalco promoters forgo conversion of warrants
Posted by : day_traderTracked by: 0 Boarder
With the stock market touching new lows as a result of the global financial turmoil, the promoters of Aditya Birla Group firm Hindalco, India’s largest aluminium manufacturer, are unlikely to convert 80 million preferential warrants issued to them in April 2007 but will subscribe instead to additional shares in the company’s current rights issue.
The preferential warrants were convertible at Rs 173.87 per share against the rights issue price of Rs 96.
“The promoters will subscribe to additional shares in the ongoing rights issue because it will be much cheaper than converting the warrants,” confirmed sources close to the group.
Hindalco’s share is trading at Rs 96-97. The last date for the conversion of warrants is October 10, which is also the closing date of the rights issue.
The promoters, who hold 31.4 per cent of the company’s equity, have guaranteed to subscribe to 50 per cent of the rights issue. This means that the promoters would subscribe to a minimum of 262.90 million shares, 92 million more than their entitlement of 170.51 million shares.
For these additional shares, the promoters need to pay roughly Rs 874 crore, which would also increase their holding to 37 per cent. If they had opted for a full conversion of the warrants, the promoters would have paid a residual amount of Rs 1,252 crore (they had paid 10 per cent upfront) to increase their stake 4.56 percentage points.
Speaking on behalf of the company, a senior official of an investment bank advising the rights issue, said: “It is logical to subscribe to additional shares in the rights issue, which is priced at Rs 96 rather than converting the warrants in which the residual amount is much more than the price of right issue.”
In April 2007, Hindalco had issued 67.5 million equity shares and 80 million warrants at Rs 173.87 each to the promoters’ group company against the prevailing price of around Rs 140 per share.
The equity portion was fully subscribed and the warrants were to be converted into an equal number of equity shares. The promoters paid 10 per cent of the warrant amount, which is equivalent to Rs 17.387 per warrant, or Rs 139 crore in total.
The company paid a commission of Rs 60.50 crore to underwrite 40 per cent of the issue (Rs 2,018 crore out Rs 5,047 crore) and an additional Rs 50.5 crore as selling commission, facts that reflect the state of the market, said a banker.
...
Support-Resistance LEVELS for TOMORROW !
Posted by : DUstocksTracked by: 0 Boarder
R3 R2 R1 P S1 S2 S3
104.40 102.10 99.65 97.35 94.90 92.60 90.15
...
sell Hindalco
Posted by : vkk43Tracked by: 1 Boarder
Could be possible but only next week....
In reply to:
sell Hindalco
Posted by :
yagneswar
Itmay come to below 85 levels
sell Hindalco
Posted by : yagneswarTracked by: 1 Boarder
Itmay come to below 85 levels...
In reply to:
sell Hindalco
Posted by : vkk43
It may come below its right issue price of 96/- after 10th October.
sell Hindalco
Posted by : vkk43Tracked by: 1 Boarder
It may come below its right issue price of 96/- after 10th October....
In reply to:
sell Hindalco
Posted by : Accolade
Metal prices are crashing. Hindalco looks weak. Sell Now.
sell Hindalco
Posted by : AccoladeTracked by: 1 Boarder
Metal prices are crashing. Hindalco looks weak. Sell Now....
NSE Announcements on Hindalco
Posted by : MMB MessengerTracked by: 0 Boarder
Hindalco Industries Ltd. has informed the Exchange that: "We have been informed by one of our promoter, IGH Holdings Pvt. Ltd., that they have acquired 9,40,000 (Nine Lacs Forty Thousand only) Shares of Hindalco Industries Ltd. from stock exchanges"....
NSE Announcements on Hindalco
Posted by : GuestTracked by: 0 Boarder
I have bought 500 shares while Hindalco sold at 204. any idea when I would be able to sell it at that cost again. I dont mind waiting but how long......
In reply to:
NSE Announcements on Hindalco
Posted by : MMB Messenger
Hindalco Industries Ltd. has informed the Exchange that "The Board of Directors of the Company has approved the Re-Appointment of Mr. D. Bhattacharya as Managing Director of the Company for a further period of 5 years with effect from 1st October, 2008, under the relevant provisions of the Companies Act, 1956".
How to apply for right shares
Posted by :
usajjanTracked by: 0 Boarder
HellO Experts
I would like to know how to apply for Right shares in Hindalco.. Is it through IPO section or Is there any different process to apply for right shares.
...
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