Caution !! Eassar Oil expereince with my friend.

This is a message purely addressed to the investors who are venturing fresh into this stook seeing its upward trend.While I congratulate all the existing share holders of essar oil who had the agony and patience of waiting so long to appreciate their stocks to the present value. They are absolutely lucky and should thank god they have been spared by the ruthless ruia family. why I am saying is that i am one of the unfortunate investor who has suffered immensely due to the ruias. the ruias were metal scrap dealers and from this started essar steel and sold the stock to the public at Rs. 70/- 20 yearsback. I had about 1000 shares bought at this rate 20 years back.after evey AGM they promised the shares holders a good time about the steel prospects in India. In the year 2000 came the slow down worldwide and the steel industry crumbled in india. the essar steel price cumbled to Rs. 7/-. then the good time for the share market started 3-4 years back and the steel industry also prospered. essar steel shares also started moving up and people sensing good time ahead for steel industry started acquiring shares and the price went up to Rs. 70/- two years back. then the greed for for money for ruias also started going upwards. one find morning the share holders realised that 40% of their holding disappeared from the account and the ruias promised to give back the shares in 2017 in the name of restructuring. they manipulated the share price and the price never went up beyond 50. they accumulated the shares at a very low rate between 30 and 40 and one fine morning decided to delist the shares from the stock exchanges after acquiring 88% shares from the market. they themselves (may be through their agents) offered the shares to buy back the shares at Rs. 48/- to make it about 90% as per the law and succeeded in their game plan with the close cooperation of all the regulatory bodies. Their greed grew stronger and now they want the 40% shares which they promised in 2017 now at the rate of Rs. 12.50 per share which the share holders bought decadesback at Rs. 70/- and all with the stamp of regulatory authorities. so ruias as like this. they will bring up the price of essar oil at a new high and they will offload the shares at the highest rate which they hold (87%)presently. the unsuspecting public will fall in their trap and then the price will start crumbling to the old glory of Rs. 50/-. then it will never go up. then they would buy back the shares from the market at this rate through some investment arm that will be floated by them and increase their holding to 89% and 1% through some other agency. subsequently they would announce the buy back of these shares at Rs. 60/- and their own agents would lodge the shares for the purpose of buy back at Rs. 65/- in order to make it 90% as per the law. the result the public will loose their hard earned money and the ruias will prosper by several thousand crores just my manipulation. this way they will earn more than by refining the oil in their refinery. so my dear general public who are the boarders of money control, be cautious, if you have shares of essar oil sell it and never reinvest in it. invest some where else and hundreds of good shares are now available in the market. you will see, ruias will come back to the market with fresh issue of essar steel shares between 500 to 1000 within a couple of years promising high profit for steel etc. etc. which they acquired at 48/- and 12.50, what an injustice. I lost my entire money in essar steel and now i am bankrupt for believing ruias. they are ruthless, unkind, never bother about their investing public, they want to eat money, sleep with money that also of poor public. Whatever they do, no govt. agency will be of any problem to them, they know how tohandle them. so dear essar oil investors, beware of ruias, keep away from them.Caution: Invest your hard money in ruias co. you will be ruined which lead you to beg and ruias will prosper by leaps and bounds.

nice information for public
thanks

WOW!

Hats off to you, friend
Hope people here heed ur warning, but right now people are participating in madness

Hope u recover your losses soon.

You have done a remarkable job by exposing ruias plans

Why not buy below 12:50?

thanks a lot ........this information only strengthens the negative perception i had on essar management

thanks for the information

Thanks for that excellent post. Even though Essar scripts looked attractive be it shipping , steel , oil ,I felt that their management is not transparent , hence never bought any
of their stocks.

At the end of the day , a retail investor needs to have a peaceful sleep with an assurance that their investments are safe . I agree that many people made quick money in picking up penny stocks , stocks driven by market rumors , stocks raising on announcements etc , but if u watch closely it will be new retail investor (or) investor with little market knowledge who will end up losing money in them.

The same thing happened in IFCI . I initially was holding it , but the way it was rising didn't augur well with its fundamentals and I exited from it long back.

In the mean time , It has raised 10 times in a year and still I never feel like entering it again .Many investors made good short term investment and reaped good benefits
but today all are worried lot not knowing what will happen next on it.

Its better to make a investment after doing a thorough analysis .

Good stocks will perform well and cant be manipulated by market volatility.

It requires patience and confidence on your invested stock which will ensure that the returns match your expectation.

What about Ferro Alloys Corporation. Is the price manipulated? can anybody tell me about these shares

Yep, This is one solid way of looting your money as per the rules!!!!
There are so many Ruias around in this world. You did an excellent job of enlightening people, but still people are gullible.

Cheers