Reliance Power is the buzzword in the markets for some time now. The issue has got good investor following. However as the markets turned weak, the things changed. RePower listing turned out to be a good dream turning sour. Most of the investors lost their hard earned money. Thanks to the greed that drove the herd into the Reliance Power.
However the real show has started now. Ambani has announced a bonus of 3 shares for every 5 shares held by each non-promoter shareholders. The BSE announcement spoke in detail about the stand of ADAG on RePower price movement on bourses. The notice on the BSE however made us think over the actions and thoughts of RePower. "Reliance ADA Group's fundamental and over-riding philosophy of creating value for genuine long term investors" is said to be the driving factor that make the ADAG think of a free bonus to the shareholders. However let us first ask one question, if the group is so concerned about the genuine 'long' term investors why they are acting in 'short' term? It is not even a month post listing and there is a desperate effort to 'support' the stock price.
This surely makes us ask Mr Ambani, what is the real value of the share? Is it Rs 285 or well below that? Further to the development on the bonus front there is an announcement which says that Reliance Energy will consider buy back of equity shares in the first week of March. This is even more desperate. One has to speak another lie to hide the first one. And there becomes a chain of lies, they say. The same seems to be playing role here, how many share prices will you support Mr Ambani. What will happene with likes of RNRL where there exist no business and no business model? |
