What would you call this scenario where GTL Group Share prices plunge shockingly,and without circuit breaker protection, in a single BSE trading session on huge sell offs…and that too without any rights or bonus or split or capital reduction adjustment
GTL Group Shareholders Wealth Destroyed in minutes….Murder or Suicide….both waiting to happen ! ?
GTL dives 62.40% to today’s close of Rs 127.80 from Previous day close of Rs 339.90 !
&
GTL Infra dives 43.27% to today’s close of Rs 16.85 from Previous day close of Rs 29.70 !
I’ve never liked the GTL Group…largely because of Serious Corporate Governance Issues involving the Promoter in the 1990s…..have repeatedly warned Clients not to get tempted by this Group and not to therefore Invest in it……the past could be a good source of a potboiler
And today in just one single trading session, GTL and GTL Infra just evaporated by over 60% and 40% respectively on huge sell offs
Company is aware but not aware !…and for the record states it is not involved and Promoters,the Tirodkars have not sold any shareholding and this includes even those shares ‘officialy’ pledged…clarifications to this effect have come in instantly to the exchanges and on the media Channels today
Then what the hell caused this collapse ! ?….obviously the huge sell off….Traded Volume on BSE was 4.58 crs of shares for GTL Infra against a two weekly based daily average of under just one lakh shares….while GTL notched a volume of 2.22 crs against less than under 50000 daily average
So who sold ?….and why ? …..should be easy to find out those who offloaded so heavily….were these unofficialy pledged shares controlled by the Promoters ?….SEBI needs to get quickly reactive here and investigate…..and not take company clarifications at Face value !….Sanctity of our Markets and Investor Protection are prime objectives here
Whatever !!!….seems the Ghosts of the Past have caught up !….just stay away from the GTL Group unless you revel in shivering thrills and chills in being invested in haunted scrips ! …or unless you are Corporate Governance Issues agnostic and look at this plunge as a great opportunity to enter and make some monies as GTL Scrips revive !
GTL for me stands for G-ot T-otally L-ynched….GTL Group Shareholders don’t know what hit them today !
Added after 9.30 pm same day
Bulk Deals of GTL Group Shares on BSE today June 20,2011…..Please Note that these Client Entity names occur regularly in Bulk Deals and in these squared off deals the Buying Price is always lower than the Selling Price
SEBI and BSE Survelliance Department owe it to the Investing Public as to why such deals are carried out….are they bonafide and genuine or created only to hype turnover and are actually circular trades in sync …also if Promoter nexus exists
| Scrip | Client Entity |
Buy/Sell |
Quantity |
Price |
| GTL | GENUINE STOCK BROKERS PVT. LTD. |
B |
805588 |
145.32 |
| GTL | A K G SECURITIES AND CONSULTANCY LTD |
B |
2298070 |
149.74 |
| GTL | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED |
B |
3507740 |
148.63 |
| GTL | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED |
S |
3507740 |
153.22 |
| GTL | A K G SECURITIES AND CONSULTANCY LTD |
S |
2298070 |
150.05 |
| GTL | GENUINE STOCK BROKERS PVT. LTD. |
S |
805588 |
145.64 |
| GTL Infra | GENUINE STOCK BROKERS PVT. LTD. |
B |
8267009 |
18.34 |
| GTL Infra | GENUINE STOCK BROKERS PVT. LTD. |
S |
8267009 |
18.37 |
6 thoughts on “GTL and GTL Infra just evaporate by over 60% and 40% in a single trading session today on huge sell offs….Company aware but not aware ! GTL got to stand for G-ot T-otally L-ynched !”
sir,
where are results for best promoter contest?
Dear Mr. Gaurav,
I’m eagerly waiting for the Bulk/Block deal figures of GTL/GTL Infra, from NSE, this evening.
In my opinion, fall in GTLINFRA has to do something with Reliance group.
My hawk eye tells me that fall in GTLINFRA has got something do, particularly with Reliance Infratel (of ADAG) stake sale, positively or negatively.
I will note be surprised to read in newspapers, few days down the line, that MDA or ADA acquired stake in GTLINFRA.
Don’t say, I’m obsessed with Reliance group 🙂
With Regards,
you cannot trust this management.i heard them on tv. they never gave direct answer to the question whether they are facing problems in raising funds. they kept on saying AFTER 2G SCAM WHICH COMPANY IS NOT FACING THIS TROUBLE??
i dont understand whats happening with some of the midcaps.. today s kumar nationwide suddenly went down 24-25% without any significant reason.. i think some group of brokers and institutions making a cartle and attacking stocks specially the one in which promotors holding is pledged.
We can call GTL, “The Last of the Mohicans” It is joining the rest – Silverline, Pentafour, Square D, Himachal etc – Another sad chapter from 1998-2000. Know a few who lost a lot of money then. Sordid tales of human greed.
As I blogged…the Ghost of the Past has surfaced in the GTL Group…As June 2011 ended,GTL ended low at Rs 90 and GTL Infra at Rs 15 with millions of shares being traded in both counters…to get perpective of this decimation and that GTL stands for Got Totally Lynched look at the 52 week Highs…Rs 499 for GTL and Rs 49 for GTL infra !….feel really sad for shareholders who are trapped badly in the GTL Group…their immediate hope lies in SBI Caps giving a thumbs up to the GTL Group…yes,they have been appointed by the Group to do due diligence to reassure lenders ….a report has been requested in 30 days