Since last Diwali, there were 67 IPOs of which 98 % are trading at lower than the issue price. For few days, the scrips are operated by the promoters to show rise in price and then price is pulled down.
Smart directors get high ratings, high premium in gray markets and few articles in some newspapers or websites, are the steps which promoters use to cheat investors. On the day of listing or few days from listing scrip is manipulated by the promoters and then the shares are sold in the market at higher price and then the share lose all its glitter. And with the profit they make luxurious bungalows and improve their life style.
During last year i.e. 2007, total IPOs were 101 which collected 34,000 Crore rupees from the market. After the BSE Sensex touched 18,000 and the market started believing that the BSE Sensex may cross 25,000 mark. At that time there were 175 IPOs in queue to collect 60,000 Crore from the market. But when decline in BSE Sensex started many of the companies cancelled their IPOs. That means they new their IPOs were high-priced.
Many IPOs during 2006-2007 gave returns of 70 % to 500 %. And the experts were of the opinion that the trend in giving returns will be followed in 2008 also.
Issue price of Resurger was 270, touched 740 within 2 days after listing. and declined 60 % in 2 more days and is now available at Rs. 60 only. Is there any logic ???????????
Check the list at www.ShareTipsOnline.com
Smart directors get high ratings, high premium in gray markets and few articles in some newspapers or websites, are the steps which promoters use to cheat investors. On the day of listing or few days from listing scrip is manipulated by the promoters and then the shares are sold in the market at higher price and then the share lose all its glitter. And with the profit they make luxurious bungalows and improve their life style.
During last year i.e. 2007, total IPOs were 101 which collected 34,000 Crore rupees from the market. After the BSE Sensex touched 18,000 and the market started believing that the BSE Sensex may cross 25,000 mark. At that time there were 175 IPOs in queue to collect 60,000 Crore from the market. But when decline in BSE Sensex started many of the companies cancelled their IPOs. That means they new their IPOs were high-priced.
Many IPOs during 2006-2007 gave returns of 70 % to 500 %. And the experts were of the opinion that the trend in giving returns will be followed in 2008 also.
Issue price of Resurger was 270, touched 740 within 2 days after listing. and declined 60 % in 2 more days and is now available at Rs. 60 only. Is there any logic ???????????
Check the list at www.ShareTipsOnline.com
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