Prakash Steelage Ltd IPO Message Board (Page 4)

Ravi,Pune,
Aryan Raj has already given info which is correct.

SJ,
Stock is hovering around 230 from morning.I am leaving as it at present.Lets check after wards what will happen.

Friends,As Bhavik has correctly predicted GPPL issue price will be decided at 46.Here is an excerpt from economic times----------------------
NEW DELHI: Gujarat Pipavav Port Ltd (GPPL), which got a robust response from investors to its Rs 500 crore IPO, is likely to fix the issue price at Rs 46 per share.

"The issue price of initial public offering is likely to be set at Rs 46 per equity. Investors will get the shares at a discount of Rs 2 apiece, as compared to the upper band of IPO price range," sources close to the issue told PTI today.

The issue, priced in the range of Rs 42 to Rs 48 a share, was open from August 23 to August 26.

The private port developer had roped in about 20 anchor investors, including the government of Singapore, HDFC MF and DSP Blackrock, to raise Rs 92 crore at a price of Rs 45 per share.

Marketmen were expecting that going by huge response, the IPO issue price would be fixed at the upper end of price range.

According to merchant bankers involved in the issue, the listing of GPPL may happen by mid-September.
--------------------------------------------------------

sreedhar

what do u mean by ventura secuties allows ipo trading.how good are ventura securities calls ?

they hv given a target of 110 for pennar industries .

whats your take

any idea abt new ipo dates

Ravi,Pune,
I trade with ventura securities.Delivery is 0.3 percent while intraday trade is 0.02.You can transfer money online for pay in & payout easily as your bank account will be linked.
It allows IPO trading which is very advantageous .They do not have margin funding.I do not use margin funding so I am very comfortable & happy with ventura securities.Their staff is also very cooperative & quick to respond.

new ipo coming september
ashoka buidcon 6/9/10
tirupati inks 9/9/10
orient green power 13/9/10
va tech wabag 14/9/10
microsec fin 20/9/10
techpro sys 21/9/10
kabirds motors
ranky ind
raheja uni
electro steel inter
bed mndha
gsycall alloy
acropetul
new ipo give good profit so ready for apply

Aug 28, 2010 11:40:57 PM IST Report Spam!
SJ,
Agreed.Shorts have been the vital oxygen for Prakash,the more people shorting it the more its going up.
YES YOU ARE WRITE very RIKSHI TRADE ON MONDAY
oNLY SOME PEOPLE HAVE SHARE SO THERE WANT UP OR DOWN
ACTION ONLY 11000APX SHARE NO EFFECT IN THIS CASE

Sreedhar

serious case of tax evasion promoters were charged high penalty

Its product portfolio is not too great.

Rathnamali which is peer has more diversified portfolio trading at 7x

This at 110 ipo price was valued at 10x. Now it is 20x

You cannot give 20x vluation for pipe manufacturing company

Max 10x coz low margin

Also input costs were low in 2009

Even with small volatility in input prices margins remain highly volatile for pipe business

So since input prices have risen in 2010 and margins will be impacted....i dont know how they will show better returns

If you would have seen the promoter talking he could hardly speak english and needed a translator in the form of another consultant by his side

Most QIBs and FIIs have sold....

One thing is for sure fundamentally it is bound to go down to issue price...

Technically i dont know the price level may be also it can got to 400 also in next week

Also remember resurgere mines and minerals that tripled in 4 days..?

Shreedhar

Another thought i just had in my mind.

Maybe coz everybody is thinking that it will go down now and should be shorted

It may go up further....coz operator knows what majority thinking is and does opposite

So may be it will be buying freeze for few more days before...people really get bulish and get sucked in at higher levels like thinksoft.......remember thinksoft..?

And then after making bullish frenzy in mind of people operator starts shorting...?

Whats your take on that view..or you think that has already be done..?

Shreedhar

Even I'll not take risk of just selling...and giving it for auction. The penalty can kill you.

Lat day when it went down it was just for few minutes to 175 and not 4-5 % down....that didnt happen

Coz i waited on friday for it to go down further from 175 for 15 minutes

It did not ....BAAAANNGGG it went buying freeze in no time...!!

So ill wait fo it to make lower top lower bottom for at least 10-15 minutes and not reverse after 1 pm....and then short.

I am also willing to take risk of putting stop loss 1 rupee below buying freeze.....Coz ill not take risk of auction. Its better to suffer intra day losses boss...!!

Whta do you think..?

SJ,
What I meant to say was even if our trade fails but we are sure that it will fall below our shorting price by the time auction comes then we can leave the shares as it is.So say tomorrow I shorted it at 230 but it went on to hit upper circuit & I did not cover it then on the auction day if it is 170 or even 200 our shares will be adjusted against our shorting price & delivered to the buyer.
Interesting point is the poor guy from whom I bought those 360 shares at 120 thought likewise & is paying heavy penalty.He thought that this will be a repeat of Aster story which hit lower circuit on 3rd & 4th day & hence did not cover at closing price of 185.Now he will be paying around 250.I think the number of people who have lost like this far outweigh the gainers from Prakash.

Dear Shreedhar

Ya same thing i am thinking only if it significantly starts making lower lows and corrects 4-5% that will indicate only sellers and no buyers at lower price...that would indicate that now promoters and operators are offloiading it.....and poor retail and hni are buying it coz it will seem cheap to them....

So only if it goes down 4-5% will i take risk of shorting....

However it should be closely watched for some time....it m ay also give reversal from there in a matter of second..

if it keeps on forming lower tops and lower bottom its a clear sell...you are right in that..

Lets see what happens....?

do you think enough steam left for it to go buying freeze further..?

I coudnt understand this last point...of yours: plz explain:

"Another point to note is that we should think about 4 day strategy.Say we shorted at 230 & stock went to 250 & we did not cover it & the stock goes to 140 on 4th day then our shares will be squared off at our shorting price which is 230.We will be charged auction charges extra."

So what point do you want to make by that i did not undertand that.?...You mean to say by that strategy we will make profit or loss...or do you just mentioned that to make a point about auction process...?

As far as I know I am fairly certain about Planet41,197 IPOs in september.There is a very high probabilty about Oberoi relaty & orient green hitting in september.These 4 IPOs should be there in september calender.Our funds are starving without any IPOs.

SJ,
Thanks for your graciousness.I start with ipo discussions link & check all the blogs.While we open that link the latest ipo will be displayed in the button bar.Sometimes I post forgetting about the IPO mentioned in the button bar.Anyways I will try to stick to your suggestion.Regarding Prakash steelage the way everyone is thinking of shorting Prakash steel makes me nervous.Markets do opposite to general market perception,Anyways I will check whether it is making lower tops & lower bottoms post the auction time then only will short it.Yesterday if you had observed the stock started at 179 & slid to 173,afterwards it made progressive higher tops & higher bottoms until it stuck upper ceiling.So we can short a stock only if it looks weak.I will study it after auction & then take a final decision.

Another point to note is that we should think about 4 day strategy.Say we shorted at 230 & stock went to 250 & we did not cover it & the stock goes to 140 on 4th day then our shares will be squared off at our shorting price which is 230.We will be charged auction charges extra.

@ sreedhar

Ek jagah post karna yaar alag alag jagah kyun post kar rah hai bhai

Ab maine galti se avantha ka post padha to tera post yahan mila..main kabse prakash mein wait kar raha hun

Prakash steelage ki strategy ke liye i am waiting so long

Forget that discussion about Microfinance ethical and non ethical

It has become waste and time of energy....neither you will agree nor i will to you.....

Plz end it...i have ended it...

Plz discuss strategy of prakash steelage further.

And i just said that bcoz you told me that never post your speculative posts about scripts coz people will blame you..that was a joke yaar..

Even i am not afraid.

Kaiye ko argue karein yaar.

Chal main maafi mangta hun SKS ke liye argue nahi karunga

Now can we move to strategy on Prakash steelage.


PLZZZZZZZZZZZZZZZZZZZZZ

Regards

Waiting for your reply

Plz post on prakash steelage blog only....to avoid confusion

Setu

@ ipo expert

plz aisa mut kar yar

pehle main bech dun phir lower circuit kar dena bhai...

Prakash Steelage is going to go Aster, Texmo, Midfield way. Everyone is advised to book profit on first avaiable opportunity

Prakash Steelage will surely hit lower circuit on Monday, please exit immediately

Dear SJ,
I have not only read your posts thoroughly but also made a note of important points. I appreciate the pain and effort you take for the sake of fellow boarders. Sreedhar's strategy is something similar to yours by what he has given in his post No.469.

@ Ipo don

Strategy has been discussed already by me.

Read post no 468

There are no price targets

Depeneds on how much profits you want and comfortable with taking risk os short sell.

Maximum target for any day is lower circuit....however it is not advisable to wait for that until and unless you have too much funds to take risk