Oki, the reason may be because ATL has got banking license... I dont know whether this has been announced.. But i heard that it has got the license to operate as a local bank and in off shore banking..
Any one out there with more information ?
Isnt this banking license is a old story. . i m quite not sure , but there are some important to consider as i think.
They recently had a right issue for 1 to 1 base and due to this announcement it ran up to 4.50 on 1.25.2011 as i remember and then dropped after and after XD date to 2.10 liike that,
in that period also that was quite resonably traded .
And the rights were issued at 1.50 and the buyers at 4.50 will be averaging at about 3.00 or may even more down , and some who held it previously may having it at more lower even..
And when rights started trading they shoot up to 1.10 from 0.10 again making some averaging nearly more or closer to 2.00 i think..
And the people who asked for additional shares even got some but in small quantities,
so the ppl who are having this share may be looking to drop at about 2.50 -3.00 as i do think..
After the rights conversion it started with 1.90 and now here at 2.40 , and through out this period it ran to 2.70 also .. so there is a high potential for a run.
And when considering their future aspects , i think it is safe share to hold , think this will never drop below 1.60 levels .
* They are planning to give all the share holders a free accident insurance
* They have a whole lot of money gained from right issue which doubled their share capital
* Expanding their coverage in north eastern province which seems to have a nice customer base due to their Islamic approach.
And in these days there are high momentum for the share counters which are in low price. so easily manipulatable at the current mkt condition ..
Any way if i climbs i am happy as i do hold , so i may be bias . open for discussion agreements , disagreements are kindly appreciated. ..