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Hindalco Industries
NSE Announcements on Hindalco
Posted by :
jdosvdTracked by: 0 Boarder
Just as I posted yesterday(see my post below).Promoters are artificially buying the stock thus doing their best to make the rights issue a success;otherwise the stock would have reached 20-40% lower just like other similar stocks.Look at Hind Zinc it has again fallen 14% today and going lower.The retail investor SHOULD get out of Hindalco at these artificial levels fast and just reject the rights.Re-enter in the range of 45-65 levels;U will definitely easily get these prices in this furious global/domestic meltdown particularly in the metals sector where there is lot of pain still left.Regards.Jd....
In reply to:
NSE Announcements on Hindalco
Posted by : MMB Messenger
Hindalco Industries Ltd. has informed the Exchange vide its letter dated October 06, 2008 that: "One of the promoter M/s IGH Holding Pvt. Ltd that they have today acquired 1,968,213 (Nineteen Lacs sixty eight thousands two hundred thirteen) Equity shares of Hindalco Industries Ltd from the Stock Exchanges". 
NSE Announcements on Hindalco
Posted by : MMB MessengerTracked by: 0 Boarder
Hindalco Industries Ltd. has informed the Exchange vide its letter dated October 06, 2008 that: "One of the promoter M/s IGH Holding Pvt. Ltd that they have today acquired 1,968,213 (Nineteen Lacs sixty eight thousands two hundred thirteen) Equity shares of Hindalco Industries Ltd from the Stock Exchanges"....
looking weak
Posted by : stkstudentTracked by: 1 Boarder
Thank you very much for your kind advice. I have understood your strategy and also found convincing about its appropriateness at this point of time, with 98/70 my immediate loss and probable gain both work out to about 30%, 98/50 could be of benefit, let me see what best can be done, thanks again. ...
In reply to:
looking weak
Posted by : jdosvd
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!
BSE Announcements on Hindalco
Posted by : MMB MessengerTracked by: 0 Boarder
Hindalco Industries Ltd has informed BSE that the Company have informed by its one of the promoter M/s. IGH Holding Pvt. Ltd that they on October 06, 2008 have acquired 1,968,213 (Nineteen Lacs sixty eight thousands two hundred thirteen) Equity shares of Hindalco Industries Ltd from the Stock Exchanges....
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.
Boarders Outlook on Hindalco
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