Reliance industries and group companies are near 52 week lows. Who is selling?
24th March 2023
Reliance industries and group companies are near 52 week lows. Who is selling?
Dear Fellow Travelers,
Namaste! Yesterday, the HINDENBURG announced that he is going to declare another report. Indian market was full of rumours about Reliance and Vedanta group. Thankfully, the company he sorted was not Indian company this time. However, I took an opportunity to look at the reliance industries and group companies share prices in the last on year.
Reliance Group Companies Share Prices: -
Reliance Industry: - 52 week high 2856. Now 2225/- It made low of 2180 in this week. Down by 22% from the high.
Network 18 Media and Investments: - 52 week high 117.50/-. Now 56. 52 week low 45. Close to 50% down from the high.
Just Dial: - 52 week high 945/- Now 593. 52 week low 520. 42% down from the high.
Den Network: - 52 week high 45.95. Now 28.20. 52 week low 27.65. 39% down.
Reliance industrial Infrastructure Ltd: - 52 week high 1257/-. Now 775. 52 week low 716. 38% down from the high.
Hathway Cable and Datacom:- 52 week high 21.80. Now 13.50. 52 week low 13.35. 38.7% down from the high.
TV18 Broadcast: - 52 week high 82.60. Now 29.95. 52 week low 28.30. 65% down from the high.
What it means from the above data?
Three things are evident from the above data.
1. Performance is negative compared to the past years.
2. Somebody is knowing that and selling slowly.
3. May be the gap between Reliance and Government is increasing.
Now, the most tracked stock is RELIANCE INDUSTRIES LTD and if the selling comes fast in that – it will be easily visible to the market. So, the selling was done higher in the less followed group companies. See they are down by 38% to 65%.
What was our call on RELIANCE way back in FEB 2021?
In our Blog – “Our Reading on Reliance Industry Horoscope” on 25th February 2021 – we had said following.
18 months from April 2022 is going to be the most challenging for the company in all respect.
We have completed 11 months so far from April 2022 and you see the performance of the stock and group companies stocks as mentioned above.
We still have 7 months to go.
Remember - Accuracy is our specialty.
What NEXT?
We are about to start the NEW FINANCIAL YEAR. If you want to make tons of money – you need the accurate calls for the coming time. If you read out blogs – we are way ahead in predicting the market events before they happen or before the experts give their calls.
If you like our skill sets – take advantage of our skill sets.
Wish you all the best.
Follow me on Twitter @hiteshmparikh / WhatsApp - +91-9869425399.
Learn a Lesson. Live with Passion & Invest with Reason.
Hitesh Parikh.
Just read perfect predictions but what is it's future ? Like Adani will bounce back sooner because still according to yr idea 7 more months critical for RIL grp & chances of loosing seems more according to yr ideas TNX
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