Vedanta Promoter, yesterday evening, have raised open offer price to Rs.235 per share, from Rs. 160 per share, announced earlier, with open offer size, also having been raised, from 37.18 crore shares (being 10%) earlier, now to 65.10 crore shares, being 17.51%, with open offer size rising to Rs. 15,300 crore, from earlier Rs. 5,950 crore, raising open offer size to 257%. Open offer will open on 23rd March and wiil remain open till 7th April.
This is seen a big slap on the face of ultra experts on TV Channels, seen giving a sell call on the stock, while amply supported by the Media Anchors, since delisting move was failed about 4-5 months, while we have been giving buy call since then, to our members in Member Zone. Stock was recommended by us to our members, at Rs. 95 on 9th Nov, with buy call given practically 2 times in a week, in these less than 5 months.
In same section here, on 11th Feb, 21, we carried a piece on Vedanta, while, last para of this was as under-
Vedanta Ltd, seen having an income of close to Rs. 1 lakh crore in FY 22, with PAT of about Rs. 10,000 crore, on small equity base of Rs. 372 crore, giving an EPS of Rs. 27, can not rule at Rs. 186 or so. At one time M Cap of the company fell to Rs. 35k crore, which is now at Rs. 70k crore, having doubled. Vedanta is holding 65% stake in Hind Zinc, having present market value of Rs. 82k crore alone. So a slap on face of critics, by teaching them a lesson that one must be reasonable even while venting out anger or bias.
On 11th Jan and on 13th Jan, 21, here in this section, a piece on the stock, also carried an opening line as under-
So, no need to worry for investors, as near and mid term view on the stock is not seen positive but bullish.
We wish to conclude with same line, that view on the stock from here is not POSITIVE, but BULLISH.
JAI HO Retail Investors shakti ki.
This is not a buy recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.