@IpeeO Its the govt cronies LIC and others supporting the price, not allowing the share to drift below the Rs. 350/- mark, as per latest reports. LIC has bailed out NMDC by cornering 80% of the Issue at Rs. 300/- LIC will not sell these shares, so expect a Listing gain of Rs. 20 to 25 on your discounted Price of Rs. 285/- there are no retail, no HNI, no FIIIs, no Mutual Funds, only LIC, SBI and other Govt bodies, The Govt will kill them if they sell, so listing gains for sure, but dont be greedy, take your profits, It may go the NTPC way after some days.
Correction...In NSE Today 2287638 shares of NMDC were traded for 8292.23 Lakhs at average price of around 360. Who is buying at 360 when they can get at 285 (retail) and 300 (others) in 10 days. Is this circular trading between Govt. sponsored banks and insurance companies? SEBI should look into this, and net the biggest inside trader and market manipulator of all. GOI. Does any one have any other logic or opinion?
In NSE Today 2287638 shares of NMDC were traded for 8292.23 Lakhs at average price of around 360. Who is buying at 260 when they can get at 285 (retail) and 300 (others) in 10 days. Is this circular trading between Govt. sponsored banks and insurance companies? SEBI should look into this, and net the biggest inside trader and market manipulator of all. GOI. Does any one have any other logic or opinion?
Guys dont apply at cutt off, apply 320 shares at 304 or 305, with the same amount of money blocked you will get more shares as the price discovered willnot be more than 300-301