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Reliance

 
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Author Reliance
riteshucha
Green Belt
Green Belt


Joined: 19 May 2012
Posts: 1290

Post: #1   PostPosted: Fri May 01, 2020 12:52 pm    Post subject: Reliance Reply with quote

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
White Belt


Joined: 21 Aug 2013
Posts: 138

Post: #2   PostPosted: Fri May 01, 2020 5:27 pm    Post subject: Re: Reliance Reply with quote

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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