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ASHO - Price Band

+10
wis
sapumal
maalinda
monash
cse.alpha
Gaja
tubal
mono
mark
Monster
14 posters

Go to page : 1, 2  Next

Go down  Message [Page 2 of 2]

21ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 6:56 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

i don't know whether it was an agreed transfer

22ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 8:37 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Perpetual Capital is a local company, related to Free Lanka group and Thurston Investments (Aloysious family). They seem to have got a real sweetheart deal on this ASHO transaction at a virtual give-away price of Rs1,000.

Don't think the seller was foreign - only major foreign shareholder is Ashok Leyland of India, and can't see them doing something so silly or being pressed for cash.

Speculation is that L.S.I. Perera was the seller, and that it may have been margin call. Large seller was quoted on board at around Rs2,000 early in the morning - unconfirmed reports that NDB Stockbrokers were on sell side.

Looks like extremely poor execution on the part of the selling broker, whoever it was - given strong results of ASHO, and positive outlook, they really should been able to get much better than Rs1,000. Whose interests were the selling broker looking after I wonder ?

23ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:07 pm

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

cse.alpha, I think you identified the seller correctly. However are you sure this is a margin call? It's listed as just LSI Perera in the top share holders list instead of margin provider/LSI perera

24ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:11 pm

mono


Vice President - Equity Analytics
Vice President - Equity Analytics

i'm just going to assume that this is some dumb indian that got screwed over epically

25ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:25 pm

monash


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Whoever the dumb seller.. we must thank him. Smile

This price band and give us a good opportunity to collect @ low..
In my opinion ASHO surely worth more than current price..

Lets hope more dumb sellers panic sell on friday.. Cool



Last edited by monash on Tue Feb 15, 2011 9:27 pm; edited 1 time in total

26ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:26 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

tubal wrote:I too placed an order for at 1525 ( i wanted go lower but the system didn't allow me said the price was outside the accepted range). Then all of a sudden, the price plummeted to 1000. So how come those orders went through? Does the SEC allow big players to place orders at any price but not retailers? Aren't they supposed to create a level playing field?

Because of this drastic price drop, I panicked and sold mine soon as a small profit could be made. Heck that was still about 60% above the days low. Who would have thought the price would go up another 800. This is just crazy. Crazier than the palm oil drama that was played out over the last three days.

i can't understand if u can't put the order for 1,525 then how they able to execute to transfer at 1,000/= I don't know why the seller agree to sell at 1,000/= it is true that every buyer to try get it at the lowest possible rate, and on the other hand the seller also try to sell at the best highest value?

27ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:29 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

let me make up a story for this

Gota held him at gun point


Rolling Eyes Rolling Eyes

28ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 9:47 pm

maalinda


Manager - Equity Analytics
Manager - Equity Analytics

i was lucky enough to buy some around 1600 and sold around 2200. enough for a day.

29ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Tue Feb 15, 2011 11:58 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

I think he sold her stake to its family company

30ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 1:11 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Perpetual buys 12% stake in Lanka Ashok Leyland for Rs. 450 m

February 16, 2011 @ 12:47 am

New kid in the market Perpetual Capital Ltd-controlled by Arjun Alosius yesterday bought a 12% stake in Lanka Ashok Leyland for an estimated Rs. 450 million.

The Company had collected 448,300 shares amounting to 12.38% stake. Yesterday a total of 465,500 shares of illiquid Lanka Ashok changed hands via 101 trades for Rs. 479.4 million. Of the lot traded a big block of 449,500 shares was done at Rs. 1,000, about Rs. 2,000 below its previous closing price. Eventually Lanka Ashok closed at Rs. 2,383.30 down by Rs. 650 or 21.4% whilst its highest yesterday was Rs. 2,500.
The seller was longstanding shareholder and director Saliya Perera who continues to hold a further 15% stake. Indian giant Ashok Leyland’s Lankan entity controls 69% in the company.

Perpetual’s investment in Lanka Ashok is on account of strong upside in the transportation and construction sector in post-war Sri Lanka.

Part of Free Lanka Group, the investment fund has been highly active in the market picking up stakes in Ceylon Grain, HDFC Bank, DIMO and Bairaha in recent months.

Trading after Jan. 21st Ashok lands in the band!
The 10% price band was slapped on Lanka Ashok Leyland from 18 February 2011 to 11 March 2011 (both days inclusive).
The capture under the band was despite the stock declining by Rs. 650 to Rs. 2,383.30. It last traded only on 21 January but got caught to the band yesterday. This however contradicts the SEC’s formula to determine which stocks must be slapped with the price band. Ashok’s all time high price of Rs. 4,300 was recorded on 21 October whilst it closed 2010 at Rs. 4,050.

Source: http://www.ft.lk/2011/02/16/perpetual-buys-12-stake-in-lanka-ashok-leyland-for-rs-450-m/

31ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 7:04 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Gaja wrote:
tubal wrote:I too placed an order for at 1525 ( i wanted go lower but the system didn't allow me said the price was outside the accepted range). Then all of a sudden, the price plummeted to 1000. So how come those orders went through? Does the SEC allow big players to place orders at any price but not retailers? Aren't they supposed to create a level playing field?

Because of this drastic price drop, I panicked and sold mine soon as a small profit could be made. Heck that was still about 60% above the days low. Who would have thought the price would go up another 800. This is just crazy. Crazier than the palm oil drama that was played out over the last three days.

i can't understand if u can't put the order for 1,525 then how they able to execute to transfer at 1,000/= I don't know why the seller agree to sell at 1,000/= it is true that every buyer to try get it at the lowest possible rate, and on the other hand the seller also try to sell at the best highest value?

I couldn't put the order below 1525 because of the 50% rule. A share cannot trade more than 50% below the last close, or 50% above it. Obviously that rule didn't apply for that transaction.

32ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 7:45 am

wis


Manager - Equity Analytics
Manager - Equity Analytics

Then how's that possible? May be CSE, SEC officials got a separate *commission* from the transaction?

33ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 8:32 am

godswen

godswen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

tubal wrote:
Gaja wrote:
tubal wrote:I too placed an order for at 1525 ( i wanted go lower but the system didn't allow me said the price was outside the accepted range). Then all of a sudden, the price plummeted to 1000. So how come those orders went through? Does the SEC allow big players to place orders at any price but not retailers? Aren't they supposed to create a level playing field?

Because of this drastic price drop, I panicked and sold mine soon as a small profit could be made. Heck that was still about 60% above the days low. Who would have thought the price would go up another 800. This is just crazy. Crazier than the palm oil drama that was played out over the last three days.

i can't understand if u can't put the order for 1,525 then how they able to execute to transfer at 1,000/= I don't know why the seller agree to sell at 1,000/= it is true that every buyer to try get it at the lowest possible rate, and on the other hand the seller also try to sell at the best highest value?

I couldn't put the order below 1525 because of the 50% rule. A share cannot trade more than 50% below the last close, or 50% above it. Obviously that rule didn't apply for that transaction.

But there were other transactions which were lower than 50% except to that 448,300 at 1000.

It said that Perpetual Capital bought 448,300 shares on the statement.

http://www.cse.lk/cmt/upload_cse_announcements/6271297775306_.pdf



09:53:32 1,360.00 100 2,000.00 1,000.00 -1,673.30 -55.16
09:53:10 1,500.00 100 2,000.00 1,000.00 -1,533.30 -50.55
09:50:18 1,518.00 100 2,000.00 1,518.00 -1,515.30 -49.96
09:50:18 1,520.00 100 2,000.00 1,520.00 -1,513.30 -49.89
09:50:18 1,525.00 100 2,000.00 1,524.00 -1,508.30 -49.72
09:50:18 1,000.00 448,300 2,000.00 1,000.00 -2,033.30 -67.03
09:50:18 1,000.00 200 2,000.00 1,000.00 -2,033.30 -67.03
09:50:18 1,000.00 1,000 2,000.00 1,000.00 -2,033.30 -67.03
09:50:18 1,200.10 100 2,000.00 1,200.10 -1,833.20 -60.44
09:50:18 1,200.00 100 2,000.00 1,200.00 -1,833.30 -60.44 Rolling Eyes

34ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 8:39 am

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

My understanding is that the 50% rule may be waived by the CSE on a case-by-case basis if a broker requests that there are no buyers (in the case of a seller willing to go below 50%) and no sellers (in the case of a buyer willing to go up above 50%).

Anyone who bought while ASHO was falling in the morning (just before the give-away Rs1,000 trade), may be able to check who the selling broker was - speculation was that it was NDB Stockbrokers.

@tubal, why I thought it was a margin call was that there was no rational explanation for the sale otherwise (noted that there was no margin provider, but shareholder list was as at 31st Dec 2010 in any case).

LSI Perera's cost of ASHO was extremely low, possibly even under Rs100, but there was no need to sell at Rs1,000. The selling broker should have been able to get a much better price amid positive sentiment re: motor sector and strong earnings and low valuations of ASHO. Both client and selling broker are to blame for ludicrous trade, while Perpetual should thank whatever gods they believe in for having being selected to win the lottery!

35ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 8:48 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

there may be a possibility that is might be a one for transaction took place with the prior approval of CSE.

I am not aware of the 50% rule, anybody has the link share it

36ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 9:18 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

cse.alpha thanks for the explaination. i guess they removed the limits just after I placed the order. Could have made a lot of money if I waited five more minutes.

Gaja, I don't recall seeing announcement to this effect. I think it was implemented early this year. I remember during the november sell of HNB-X dropped from 200 to 18 with in minutes. At other times people used to create artificial buying pressure by placing orders for 1,000,000 or so shares at about 1 ruppeee. This was often seen with TFC.

Then suddenly this year, when REEF was on that ridiculous climb, it reached the 50% level and stopped. At the time I tried placing a couple of absurd buy and sell orders on several shares that owned (to test it out) and i was not allowed to do it. This incidence completely slipped my mind until yesterday.

37ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 10:28 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

oh man I missed this chance big time. I could have bought even 20K of this @ 1000 and sold it at 3000 easily.

38ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 11:16 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

20th shared holder in Top 20 share holder list holds only 625 shares as of 31/12/2010. Hope I can be listed in top 20 share holder list in next quarter if I can hold my shares till end of march. cheers

39ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Wed Feb 16, 2011 11:20 am

RockStock


Manager - Equity Analytics
Manager - Equity Analytics

Monster wrote:20th shared holder in Top 20 share holder list holds only 625 shares as of 31/12/2010. Hope I can be listed in top 20 share holder list in next quarter if I can hold my shares till end of march. cheers

Hey you are exposing your self

40ASHO - Price Band - Page 2 Empty Murder at ASHO! Fri Feb 18, 2011 7:44 am

wmdcf

wmdcf
Manager - Equity Analytics
Manager - Equity Analytics

http://print.dailymirror.lk/business/127-local/36010.html

41ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:02 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

That's outrageous more outrageous that the newspaper hasn't mentioned the name of the broker. Anyone know who the selling broker is? Obviously if you are a client of this broker, you need to move your business somewhere else. If this is how they treat billionaires, how will they treat us retailers

42ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:14 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

wmdcf wrote:http://print.dailymirror.lk/business/127-local/36010.html

Force Selling is one thing but the way this was carried out is unforgivable in my opinion. Both affecting the Director and then the small timer. To take a valuable share which would be in demand ( even after they showed a superb quarter) and sell it less than half price is unacceptable and it butchering I think the broker could have easily negotiated to get their customer a better price for this as there would have been other buyers than the bargain hunter Perpetual. They say they are concerned about insider deals and manipulation by small timers but what do you call this then. This is simply not acceptable as it could have been executed in a more professional way.

I am actually sicken by these acts where SEC should intervened in the best interest of the director and small time retailers.

43ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:22 am

mark

mark
Expert
Expert

slstock wrote:
wmdcf wrote:http://print.dailymirror.lk/business/127-local/36010.html

Force Selling is one thing but the way this was carried out is unforgivable in my opinion. Both affecting the Director and then the small timer. To take a valuable share which would be in demand ( even after they showed a superb quarter) and sell it less than half price is unacceptable and it butchering I think the broker could have easily negotiated to get their customer a better price for this as there would have been other buyers than the bargain hunter Perpetual. They say they are concerned about insider deals and manipulation by small timers but what do you call this then. This is simply not acceptable as it could have been executed in a more professional way.

I am actually sicken by these acts where SEC should intervened in the best interest of the director and small time retailers.

ya agree,SEC should investigate this..........it's a foolish trade........

44ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:46 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

mark wrote:
ya agree,SEC should investigate this..........it's a foolish trade........

Investigate? Heck didn't they approve the transaction? As cse.alpha mentioned, you need permission to go below 50% in a day

45ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:48 am

mark

mark
Expert
Expert

tubal wrote:
mark wrote:
ya agree,SEC should investigate this..........it's a foolish trade........

Investigate? Heck didn't they approve the transaction? As cse.alpha mentioned, you need permission to go below 50% in a day

just got it that it was executed by broker according to the force selling.......


A stock market analyst commenting on the matter said, as far as he is aware the brokers should obtain a special permission from the Colombo Stock Exchange if they were to sell a certain share at more than 50 percent above or below the previous trading price.
..........so how they did it?

46ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:52 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

what was this moron doing for the last couple of months. he could have easily found a client at over 2.5K. i'm sure the bank would have given them ample warnings

47ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 8:59 am

mark

mark
Expert
Expert

mono wrote:what was this moron doing for the last couple of months. he could have easily found a client at over 2.5K. i'm sure the bank would have given them ample warnings

broker may got something for this transaction...........i wondering who was the broker of selling side........may be the buyer's broker and seller's broker is same person...........

48ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 9:00 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Mono, I don't think a moron can become a billionaire (unless it's inherited of course). So I think there is more to this story than has been published so far.

49ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 9:07 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

mono wrote:what was this moron doing for the last couple of months. he could have easily found a client at over 2.5K. i'm sure the bank would have given them ample warnings

Mono,
Let say this guy is a moron ( to whom I still feel sympathetic) my question is what interest does the
a) brokerage sold shares at half price where they also could have got a better price for their customer if they are concerned with ethics and good practice
b) if SEC apporoved this did they not know how the small timers are going to get affected when shares prices crash

Okay let blame part to the shareholder but others ( especially the broker) seems to have other agendas

50ASHO - Price Band - Page 2 Empty Re: ASHO - Price Band Fri Feb 18, 2011 9:12 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

i was referring to the broker when i said moron.

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