SING N downtrend

dilshanusjp · 1 SING N downtrend Fri Sep 16, 2011 10:59 am

dilshanusjp

Senior Equity Analytic

Posts : 77
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Join date : 2011-07-15
Age : 35
Location : Kelaniya

Dear experts can u explain why SING N in a downtrend even after the right issue?i can understand the sudden price drop due to right issue but as i feel the price range should be at least around 400-450 but now it,s trading around 270?

kotasa · 2 Re: SING N downtrend Fri Sep 16, 2011 8:59 pm

kotasa

Equity Analytic

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Join date : 2011-09-12

Yes. It is difficult to understand the real reason. However rights issue has over subscribed by many times. I applied for 4,000 additional shares, but they have allotted m only 36. My brother also applied for same quantity, but he has got only one additional share. This should go up again.

capitalgain · 3 Re: SING N downtrend Fri Sep 16, 2011 10:21 pm

capitalgain

Equity Analytic

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Join date : 2011-05-07

The way i see it is that a lot rights were traded between 155-180 so upon conversion the cost of those would be 210-235. So they can drop those easily at 260 even and get a good profit ....So Now the SING.N0000 holders now are trying to sell and exit to minimize the risk .....