Reliance Communication (Rcom) is hitting back to back upper circuits, why suddenly there are so many buyers of its shares.
Lenders of Rcom have a great hope to recover their dues once its Spectrum business is sold which is the biggest assets that Rcom has as of now. Even Shareholders of Rcom are also waiting to see who buys the business of Rcom since in case of corporate insolvency each shareholder may get value to their investments once all the liabilities are settled.
Going way back at the time of Pandemic Rcom touched lower Price of Rs 00.65 paise per share after that it has never touched such a lower limit. The recent lower limit it has touched was Rs 1.20 paise each. Some investors still believe that these shares are ready to buy at a lower price and want to accumulate at such discounted prices.
Since 2020 FII which is holding .2% and DII which is holding 4.7% shares of Rcom did not reduce their stake. Are they having a great hope too just like lenders and shareholders?
Who knows the fate of Rcom tomorrow but investors who invested highly in this share might be contemplating as share trading is “a tale told by an idiot.” The young and recent traders who are buying this share at price of Rs. 1.45 paise per share might have felt that it’s a jackpot someday.
Declaimer: Share trading is subject to market risks, study carefully before you invest in any stock. Investing in the stock market would be completely your decision and profits and losses are associated with it. DU Assassins would not be held responsible for profits or losses you incur. The objective of this article is knowledge sharing.
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