700. Ravi, Bangalore I absolutely agree with you..My point here is, your analysis would have major influence in taking decisions. But all of you guys doing good job..Thanks you all..Keep blogging.
SJ & Ravi, Bangalore, Operators might not be able to manipulate GPPL on listing as it is much bigger issue than Aster or Prakash or any other issues manipulated previously. it is observed that most issues which have been manipulated in the past were below 100 cr.
Boarders sell and run away 60 for short term traders and long term can sell above 63 and buy back in intra day.
Above 65 is unsustainable and is operator manipulation.
Although you may laugh at me but a big operator yesterday told me it will be taken upto 90.
Although all his calls in which he plays with scrips achive his target but I dont beleive his price target of 90.
May be it may happen see praksh steelage and aster. But not supportive fundamentally
Actually for intraday trading this my strategy:
I will keep a buying stop loss at 65.50 and if it hits that stop loss then i will then believe that it has caught frenzy of operators and it may go to mad levels. However that possibility is grim but that is my strategy although i may book loss thats ok i will just buy 10% shares of my investment to trade i.e. 1000 shares.
The average cost of shares for promoter: APM Terminals Mauritius is Rs 44.3. The average cost of shares for selling shareholders: The Infrastructure Fund of India LLC is Rs 42.85 and The India Infrastructure Fund LLC is Rs 66.45. Cost of Anchor investors is Rs.45.
Any fall below 44 is good buying opportunity for long-term investors. Promoter & P/E Funds are holding around this price since many years. Hence, I don't expect price to fall below this price. In case it rises above Rs.60-65, it is good selling opportunity. Above 60, certainly there could be selling pressure from selling shareholders (P/E Funds).
Given the subscription figures, I think the situation is "ideal" for heavy speculation. So, the small investors BEWARE! It is highly likely that on opening day, the prices will fluctuate wildly. The opening may be as high as 20%(Rs.58)and then fall due to heavy selling pressure. Towards the end of the day, it may be anyone's guess. Therefore, make hay while the sun shines, and sell immediately upon opening of the market, if you get around 15% return.
There are 2 ways of allotment. Pro-rata basis or division basis. In pro-rata, persons bidding higher quantity gets most shares and lower quatity gets lower. That too according to a ratio of application. Since GPPL is subscribed 9x, your getting shares is 1 out of 9 chance. If it's pro-rata, lesser shares and not 130 will be given to 1 out 9.
If division basis is applied, everyone gets shares which most of the govt psu do. it's old way of allotment done very rare these days.
Sadly, you won't get any shares as you have not opted "cut off". The only possibilty of your getting any share is GPPL decides price less then or 45 which is highly unrealistic.
From next time onwards, remember to put bids at cut off if the subs ratio is higher. For cases like hindustan media/NMDC/REC where subs where less than 1x or 100%, you could have gone for price bids. You learn to walk once you fall. This mistake of yours is lesson, for you and others too.