Now, lot of brokers polled are saying that the correct price should be around Rs 300. Investors from all segments were selling the stock which caused the stock to close at Rs 372. Lot of investors especially in the HNI and QII segment have lost huge money as they had taken loans for subscription. They have to bear not just the loss in price but also the interest cost on loan.
The stock may bounce back but considering the volatility in secondary markets, it looks like the stock is headed for rocky times ahead. Moreover, since it does not expect cash flows until 2013, investors are looking at other options like NTPC which is providing more value than Reliance Power at its current price.
Click this link on 11th Feb to see the Reliance Power IPO listing and performance.
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