Yesterday, Ashapura Intimates issued a shocking release to the Exchanges.
What is even more shocking is the stock price behaviour prior to this release.
Chart Source: Bombay Stock Exchange
What to call this? Clairvoyance of the markets or something else?
No, it is not clairvoyance of the market. It is the hoodwinking by the promoters and management of the company.
I understand that IIFL has taken control of more than 30% shareholding of the company by earlier holding and substantial conversion of loan into equity in the last one or two months. And therefore, it is the hoodwinking by the promoter/management.