Promoters of Vedanta raised open offer size and price on 16th March night, to 65.10 crore shares, being 17.51% of total issued equity, at Rs. 235 per share. Post that, share ruled at around 225 only till 31st March. Many desperate investors, with low conviction on our calls (while more faith on fake advice of Media) asked us, why share has not moved to 235? Now post open offer, share fell and now ruling at Rs. 225, and same breed is asking us, why this fell below 235? We had no answer for both. Because, as a fundamental expert, we do not go by hourly or daily trend, because neither we are hourly experts, nor Media with their own agenda.
Only 58% response to the open offer is seen an adequate and ample bullish call, for reasons stated by us here in this section earlier as well. Now Media is scaring with interest burden rising at Promoter levels, due to this open offer? Are they analysing Vedanta Ltd or its Promoters?
On a lighter note, we say that the Media guys, who can't run a betel leaf shop, or have not rewarded its shareholders in last 10 years, or have got vanished after leaving channels, are advising promoters, with M cap of Rs. 1 lakh crore or more, on their companies, Isn't it disgusting?
If technical factors, or one artificially make any share to rule low or high, it can not remain there for a long time. We are having positive view on Vedanta for year 2021, as MT investor. So avoid looking to weekly fall or rise of Rs.5, on a Rs. 235 stock, which is usual and least volatile.
This is not a buy or sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.