RJ buys Surana Solar

Discussion in 'Stock Picks Of Wizards' started by dash_84, Jun 9, 2015.

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  1. dash_84

    dash_84 New Member

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    On 09 June 15 Rakesh Jhunjhunwala bought 256500 shares Surana Solar at avg price of 53.74 . Yesterday also he bought similar quantiy but squared off.

    What are the prospects of this stock and does someone have any information regarding finances and growth prospects then kindly share some thoughts.
     
    dash_84, Jun 9, 2015
    #1
    desi man likes this.
  2. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    He appears to have been trading in the stock. He bought and sold on the same day with a marginal price difference. It is a very strange transaction. The amounts involved (about Rs. 1.38 crore) is extremely petty by Mr. Rakesh Jhunjhunwala's standards.

    I can't find anything worthwhile about Surana Solar. However, I will ask around and see if there is any news anywhere.
     
    Meenakshi Razdan, Jun 9, 2015
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  3. dash_84

    dash_84 New Member

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    Hi Meenakshi,

    Thanks for reply. Yesterday, as you rightly pointed out, he squared off his trade. However today he has taken delivery (as per the data on bulk deals of nse).

    But I agree with you it is a petty amount for RJ and usually not his style.

    On the contrary it may happen that he will buy in small chunks for 3-4 days.
     
    dash_84, Jun 9, 2015
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  4. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    Yes, he has taken delivery of 256500 shares. Interesting! The other interesting aspect is that the stock price fell about 4%. Normally, when the news is that Mr. Jhunjhunwala is buying, the stock price hits the circuit.

    I expect the stock will react tomorrow. It may open in the upper circuit. :)
     
    Meenakshi Razdan, Jun 9, 2015
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  5. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    The stock is up 11%. :)
     
    Meenakshi Razdan, Jun 10, 2015
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  6. rameshkare

    rameshkare New Member

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    Hi Meenakshi, how did you find out that RJ bought. Is there any link were do we get information like this. Thanks, Ramesh
     
    rameshkare, Jun 10, 2015
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  7. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    Meenakshi Razdan, Jun 10, 2015
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  8. Jai Kumar Omprakash Chawl

    Jai Kumar Omprakash Chawl New Member

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    Hi Meenakshi ji.. I have bought Surana @ 58.7.. Do you think it is a good pick for a week to 2 weeks' time?
     
    Jai Kumar Omprakash Chawl, Jun 10, 2015
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  9. Jai Kumar Omprakash Chawl

    Jai Kumar Omprakash Chawl New Member

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    Or if i convert it to Medium term say about 1-2 months, how much return do you think I can get?
     
    Jai Kumar Omprakash Chawl, Jun 10, 2015
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  10. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    My God! This is a very dangerous game to play. We know nothing about the fundamentals of the stock. How can you entrust money to it? Even a trader carefully studies the chart and then decides whether to buy or not and even he/she has a strict stop loss.

    See, even on the first day, Mr. Jhunjhunwala bought and sold on the same day. How do we know he will not sell the second lot today?

    I think this is pure gambling and it cannot be approved :( I hope you have not put a large amount in the stock.
     
    Meenakshi Razdan, Jun 10, 2015
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  11. dash_84

    dash_84 New Member

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    This is strange set of developments.

    Firstly a trade by RJ on previous day
    Secondly a positional buy on second day (but in very small quantity by RJ standard)
    And thirdly stock fluctuating from 17 percent to 1 percent intraday..

    The trade yesterday is by no means a conviction buy by RJ standards..

    What is going on..may be he buys more today or squares his position off.
     
    dash_84, Jun 10, 2015
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  12. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    I totally agree. Can't make head or tail of what's going on.
     
    Meenakshi Razdan, Jun 10, 2015
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  13. Jai Kumar Omprakash Chawl

    Jai Kumar Omprakash Chawl New Member

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    Hmmm... Ya the entry was not well studied.. but now I am stuck.. should I book loss and exit??
     
    Jai Kumar Omprakash Chawl, Jun 10, 2015
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  14. Jai Kumar Omprakash Chawl

    Jai Kumar Omprakash Chawl New Member

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    Did see the MD's interview, a few mins ago, they seem quite bullish about the FY16 outcome.. Not sure what to do..
     
    Jai Kumar Omprakash Chawl, Jun 10, 2015
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  15. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    I think it is best to follow your instincts in such matters. Nobody can really offer worthwhile advice.
     
    Meenakshi Razdan, Jun 10, 2015
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  16. Jai Kumar Omprakash Chawl

    Jai Kumar Omprakash Chawl New Member

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    Ok Meenakshi ji, thanks for your input. :)
     
    Jai Kumar Omprakash Chawl, Jun 10, 2015
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  17. dash_84

    dash_84 New Member

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    Confirmed..it is not RJ but a namesake.

    This is confirmed also by RJ himself.
     
    dash_84, Jun 10, 2015
    #17
  18. narayan.pal

    narayan.pal Active Member

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    The stock closed in 20% dn...
     
    narayan.pal, Jun 10, 2015
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  19. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    Where did you get this news. I know it is everyone at MMB is talking about it but is there any press release?
     
    Meenakshi Razdan, Jun 10, 2015
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  20. dash_84

    dash_84 New Member

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    I saw this news in CNBC TV18. And varinder bansal did research on this topic and he confirmed this.

    The trade comes from a rajkot based broker, with whom a Culcutta based person has an account with the same name as RJ.

    And the media people apparently also talked to RJ himself and he confirmed the same that he has not bought this stock
     
    dash_84, Jun 10, 2015
    #20
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