Moneycontrol.com >> Messageboard >> Stocks >> Novartis India >> Novartis People are calling at home to tender shares

Venkateshwa
rlu

Silver Member

8 Followers

Its called height of desparation. Novartis people have called me last week, whethe... Read full message

11.09 AM May 31st 2009 | Track

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Venkateshwa
rlu

Silver Member

8 Followers

Its called height of desparation.

Novartis people have called me last week, whether I am tendering my shares at Rs.451/- the offer price.

My answer to them was If they offer Rs.1000/- per share,then I will tender the share.

So folks please don`t tender your shares at current offer price.

- Venky

11.09 AM May 31st 2009

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phirozaban

Platinum Member

53 Followers

Wish we have people like you in larger numbers. Just a suggestion, if the price of Novartis comes down by Rs 100/ add them to your holding.

9.54 PM Jun 6th 2009

phirozaban

Platinum Member

53 Followers

Sorry, disagree. It is not a courtesy call. It displays anxiety of Offer failing.

11.03 AM Jun 8th 2009

bullish9000

Platinum Member

24 Followers

i have tendered my 500 odd shares and bought today itself 400 at 410 closing price. got neat gain of 40 odd rs.

9.39 PM Jun 8th 2009

avijitb

Platinum Member

43 Followers

Please be aware that share offered in open offer don`t qualify for long term capital gains tax ( I am assuming you ware holding these shares for more than 1 year ). When you pay tax on shares sold in open offer your Rs. 40 gain will vanish.

1.52 AM Jun 9th 2009

phirozaban

Platinum Member

53 Followers

Very true but hardly any investor understands the catch in such open offers. If shares were purchased less than a year ago and tendered in open Offer the Short Term Capital Gains will be at the rate in which the share holder`s income falls.

1.23 PM Jun 9th 2009