Dear friends...dont break your heads on recent promoters stake sale....It is true and known that promoters had no cash to acquire about 30 lakh shares through prefferential warrants issue and infact they requested the authorities to give them 3 months time where they got only a month to complete the aquisition...So it seems to be very clear now that they just wanted to save the initial payment of 35 rupees they had made for warrants issue...so they have sold their shares during the warrants issue period as much as possible....which means they had put in about 145 rupees per share to complete the acquisition... which means they were just planning to save that initial payment of 35 rupees and therefore they are offloading that stake purchased in warrants issue to repay their debts and revoke pledged shares... So this overall buying of warrants and selling of aquired prefferential shares is just to encash that 35 rupees...out of this transaction promoters have made a profit of about 40 rupees per share while maintaining their same old quantity of stake in the company...overall I feel there is nothing wrong...Promoters have just made use of the opportunity they had...Though it had become a hindrance to stock price movement in recent time...I am 100% sure Stock price will get appreciated once this activity of promoters is over... hopefully by now or in couple of days max this activity of promoters should be over and after that AGLs upward rally will start...just hold on or use this opportunity to add up for next 2 to 3 days or max 1 week...you will reap the benefits from then...
12.17 AM Jun 12th
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