Monday, February 11, 2008

Power Off. India Off.

Every one was expecting this listing, but it proved to be a damp squib. Reliance Power listed today and tanked 20% from its issue price. Bye bye dreams of Rs. 400.00 premium.

The subtext was even more interesting. CNBC TV 18 was very negative on the issue from day 1, NDTV Profit tried to prop up the sentiment- as late as today morning they were predicting a listing of Rs. 575-600.00. You can draw your own conclusion on the reasons why each channel was having a divergent view.


Nilu said...

Subtext II: NDTV Profit had an interview with Anil where he mostly read from the marketing material of his companies -- and the anchor person let him do that.

Bala said...

Letter pad company ellam vanguna ipdi than. The side by side comparison between rpower and ntpc which cnbc was running was hilarious.

seriously company is going to generating profit in 2013 and people pay premium for that stock?

the entire bull run between sept 18 and jan 18 now looks like a giant chotta bhai and motta bhai circular trading exercise.

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