Reliance Petroleum shares bought

Just what i was waiting for. A dip in the market and i picked up some more of Reliance Petroleum and Praj Industries‘ shares. Am hoping for some more correction so as to continue my cherry picking.

reliance petro

A picture of Alkylation Plant – Depropaniser ODC being transported to the Reliance Petroleum’s Jamnagar factory.

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  • raghunath

    hi, im a regular reader of ur blog, regarding rpl dont u think that they are taking investors for a big ride.. look at what they did sometime bak..

    RPL under SEBI Scanner.. the drop from 290 to 195 has been completely operated. thats the news all over.. check this link of financial express and live mint

    http://www.financialexpress.com/news/Smart-operators-in-RPL-futures-make-a-cool-Rs-1-000-cr/244312/

    Between November 1 and November 6, 2007, a particular group made short sales of 10crore shares of Reliance Petroleum in the futures segment of National Stock Exchange costing Rs.3,000 crores approximately. they made a cool Rs 1,000 crores in less than a month, because the Reliance Petroleum shares have now crashed from Rs.295 to Rs 195 per share!. These guys have made Rs.100 per share.

    isnt it ironic that someone knew that RIL was going to sell a huge quantity of shares and the prices were bound to come down?

    My 2nd question is Who financed these traders for their margins? Where has this profit gone? and who bore the loss???

    Its innocent small investors who bought Reliance Petroleum shares at the high prices, not knowing that this unholy alliance was indulging in insider trading and making illegal profits while Mukesh Ambani’s own company RIL was selling shares without disclosing this to investors!!

    please do give ur thoughts and try to infrom ur readers if possible..
    thanks