Hat Tip: DivyeshBhai
Ben Graham had a phrase “clairvoyance of the stock markets” where the stock markets knows stuff even though there is no apparent news item
Yesterday, at 11:00 am, suddenly the stock of ABC Bearings started zooming and it hit the Upper Circuit.
More than 12 hours later, on 5th July,2017 at 02:09 am, the following announcement was put up on the stock exchanges:
The Board of Directors of ABC Bearings Limited at its meeting held on 4th July, 2017 has approved, pursuant to the provisions of Sections 230 to 232 of the Companies Act, 2013, the merger of ABC Bearing Limited into Timken India Limited through a Scheme of Amalgamation and Arrangement amongst ABC Bearing Limited, Timken India Limited and their respective shareholders and creditors.
Jaago, SEBI Jaago