Essar steel

[bittu_yx]

Hi all,

some time back I was holding Essar steel shares, they delisted it and again Listed but only 60%, cud any one tell me wat will happen to the remaining 40% shares how can i sell them. I am having ICICI direct online trading account, in that its showing those 40% shares as N/A. Please advice me. thanks in advance

 

[hopkins]

I far as I know this group is notorious for looting the investors. Essar has cheated the public in a very different way. They have extinguished 40 percent shares of the shareholders which were bought by investors at around Rs.50 levels and after doing this they have reissued themselves crores of shares at Rs.10. I dont share a very optimistic view on this counter. Exit as early as possible to minimise loss otherwise its a dead stock of common investors. I personally lost good amount of money on this counter so Its my duty to protect others from suffering losses. Have some fundamentally strong shares in your portfolio. I have opened a thread named 'fundamental pics' u may refer that also. For the next 20 days I am out of station so I may be excused for that absence.

 

[bittu_yx]

I far as I know this group is notorious for looting the investors. Essar has cheated the public in a very different way. They have extinguished 40 percent shares of the shareholders which were bought by investors at around Rs.50 levels and after doing this they have reissued themselves crores of shares at Rs.10. I dont share a very optimistic view on this counter. Exit as early as possible to minimise loss otherwise its a dead stock of common investors. I personally lost good amount of money on this counter so Its my duty to protect others from suffering losses. Have some fundamentally strong shares in your portfolio. I have opened a thread named 'fundamental pics' u may refer that also. For the next 20 days I am out of station so I may be excused for that absence.

Thx hopkins, but i wanted to know wat abt the remaining 40%

 

[hopkins]

The balance 40 percent has gone for ever. They have been taken away from ur account without any charge. Now u have only 60 percent left with u.