CNBC came out with a news that Reliance Mutual Fund has written to SEBI seeking open offer followed by Mr., Tulsian recommending the share as a buy. It appears to have responded by 3 UC and now major sell of. In the interest of transparency, please conduct an enquiry whether Reliance Mutual fund is one of the sellers on 16th September. If so did CNBC knowingly or unknowingly become a party for manipulating the stock. I have also written to SEBI requesting them to check the names of sellers on this day . Please note that you are the only channel which ran this item as a major one regards
i meant 3 upper circuits. CNBC group to be frank is in all kinds of financial troubles and i will not be surprised if they oblige Reliance Mutual fund to manipulate the price provided they get a pound of flesh in terms of support in their fund raising efforts. My spot enquiries reveal that the scrip which was on an upper circuit at 217 came down a total of 10% due to a huge sell order of 5 lac shares. If Reliance MF or their associates are involved, it is a clear cse of fraud on the people. As you know Reliance MF is capable such unethical practices. It is an interesting case for us to test the market surveillance system of SEBI. I have 34 years of experience in Banking of which a last few years in Investment Bank abroad. While I dont want to get into hasty conclusions, my attention was drawn because of the peculiarity of the case. Reliance MF suddently waking up about the oppen offer on an ownership change which took place 2 years back and the exclusive prominence given by CNBC on the subject with Tulsian normally a clear headed guy giving a confusing explanation with open offer being a sweetner etc. Many a time, such small incidents if followed up could turn out to be great events in small investor protection. I would request all those boarders who are interested first to concentrate on finding out the sell order of 5 lacs today and if our suspicions are correct , follow up with SEBI. Since SEBI msy not respond to small investors requests, we can even approach some of the younger MPs to take it up with MOF may be with a starred question. These are just thoughts at this stage and situation could be totally differet. I need to remind small investors that eternal vigilance is absoulte must given the predatory instincts of some of these fund houses and lack of moral uprightness on the part of channels
If the persons who sold the shares have deliberately floated the news of the open offer with a view to jack up the price and entice market to take the share up , then it is brazen price manipulation. In the instant case, if the seller is traced to Reliance MF, it is a clear case of fraud. There is much mystery behind the whole drama of open offer and the way the story was planted. If SEBI finds out that there is circumtantial evidence to prove that the story was planted with a view to manipulate the price, it is a criminal offence. So what we should find out is who sold the share when there was a general expectation that an open offer at Rs 325 plus interst at 15% which takes the share value to Rs 400 . that person knew very well that the open offer is only a planted story with a vested interest. Please note that I am not coming any conclusion now. My suspicions may be proved wrong if Reliance MF or its associates have not sold the shares. Let us keep our eyes and open. If something wrong has taken place and we remain passive, these guys will be emoboldened to do it again and again. Honestly, the track record of the parties involved make me very suspcious. Please enquire and if my allegations are true, write to SEBI Investigation Deptt. I want more boarders to take interest in this case
Hey Walnut, What will happen tomorrow? will it hit the lower circuit again on a sell of and small time investors like us dubed again? can we sell and come out? or wait for ths stock to go up again?
It is very difficult to understand the movement. If my doubts are wrong and there is a strong chance of an open offer, it should move up. If my assessment that the whole issue is stage managed proves correct, it could come lower.The Capital Market per se is comprised of two major players. Prey and Predators. Once in a while, watch Animal Planet or National Geographic. Preys and Predators co exist. Without Prey( small investor) predators ( fund Houses, socalled experts)cannot survive. If we are smart , we could survive in this wild. I can only tell you that a majority of the Capital Market Players whether the socalled professionals, channel experts and fund Managers are absolutely venal and has no scruples. Just like creatures on the upper end of the food chain , they feed on. If you keep in mind that most of them are crooks, you would be on your guard. As an aside, I must also tell you that compared to these guys, our politicians are angels. Some of the most corrupt and dishonsest fellows, you will find among the capital market players.
I would keep my fingers crossed for tommorrow. As regards, your query whether to sell, it should depend upon your purchase price as well as apetite for risk
It is indeed price manipulation, today again the stock has hit the lower circuit. I am not able to come out of this, can anyone advice how to come out?
looks like my assessment is right. It is a fraud perpetrated by CNBC TV 18 and Reliance MF to trap small investors!!!!
These guys are worse than terrorists. They strike at innocent people
Congrats. I dont think many small investors are invested in this tock, I have not seen any responses from boarders. I believe the stock is good at this level though manipulations would take the price down for some time now
Yes, manipulation can take this stock down to 120 levels in short term, whats your opinion?? Well BSE should remove 5% UC and do justice to small investors....
dont be so helpless. If all of us get together, we could find the real story behind the price manipulation and then expose these guys. Dont forget that the system is to protect everyone but does not we will look for other ways. FIRST LET US FIND OUT WHAT HAPPENED
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