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Reliance |
riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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Post: #1  Posted: Fri May 01, 2020 12:52 pm Post subject: Reliance |
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Dear all,
I want to understand if reliance deal can come under insider trading rules.
First they(promoters) buy huge number of shares from open market at 980-1077... Then announce fb deal 7 days later. Taking prices to almost 1500 rs.
Then comes the rights issue announcement at 1257 odd where they can dilute stake and off load whatever they bought at 1257, thereby making a killing before anyone realises. And dangling right issue subscribers a 200 rs incentive to cmp.
Doesn't this smell fishy?
Ritesh |
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AjitS
White Belt
Joined: 21 Aug 2013
Posts: 138
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| Post: #2 Posted: Fri May 01, 2020 5:27 pm Post subject: Re: Reliance |
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| riteshucha wrote: | Dear all,
I want to understand if reliance deal can come under insider trading rules.
Ritesh |
From what I know, These are not purchases from market. These shares are only "internal transfers" but have to be reported as per exhange rules and hence those declarations. That is why insider trading rules will not apply.
By "internal transfer" above, I mean transferring from you own company to yourselves or something like that.
This is my understanding. I could be wrong. If it was under insider trading, by now, there would a lot of hue and cry. |
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