Categories
5Stocks

5 stocks where promoter’s stake has fallen by more than 20%

This post is in continuation of my 5 stocks series (see here).

The table below lists 5 stocks where the promoter’s stake has fallen by more than 20% between the quarters ended Sept 2012 and Dec 2012 (source:CapitalMarket)

Company Name Promoters % – 31/12/2012 Promoters % – 30/09/2012 Var(%)
Shriram Trans. 25.79 46.21 -44.19
Glodyne Techno. 35.74 47.85 -25.31
Tulip Telecom 50.68 67.83 -25.28
IndusInd Bank 15.3 19.38 -21.05
Gayatri Projects 50.32 63.47 -20.72
Categories
ForecastingFolly

Forecasting Folly:Tulip Telecom

This post in in continuation of my Forecasting Folly series.

I have been asked by some of my readers why I am writing these kind of posts when most people know that sell side recommendations are shit anyways.Well, the answer is for my own personal amusement !!

The stock I am covering today is Tulip Telecom.

On Nov 8, 2011, Emkay Global Services put out a buy on Tulip Telecom.

Then the prevailing price was around Rs.150/share. Emkay Global in its wisdom put out a price target of Rs.218/share…an expected return of 45%

Instead, the stock crashed over the next months to close at 36.65 today…a whopping loss of around 76%.

A recent article in ET explains the travails of this beleaguered company which is struggling to pay the salaries of its employees.

Forecasting Folly, anyone ?