Wednesday, August 25, 2010

revew on ashco niulab

Mahesh Ji,
ASHCO has announced reverse split from 1/- to 10/-. I’m holding 556 no’s at 0.90. What will be the effect of this? What should be my action? Moreover ICICIDirect has blocked trade in this scrip it seems
Ask by shri Rajeev Daniel
I give my negative view on ASHCO NIULAB INDUSTRIES LTD on following link
http://sharegenius.blogspot.com/2010/03/avoidashco-niulab-industries-limited.html
but Ashco Niulab Industries Ltd Board of Directors at its meeting held on August 09, 2010, have approved the consolidation of equity shares from 10 Equity shares of the Company of Re. 1/- (Rupee One) each to 1 Equity Share of Rs. 10/- (Rupees Ten) each, subject to approval of members / shareholders, MCA, and any other regulatory bodies, if any.
After reverse split it seems positive because it reduces number of shares and low share quantity always beneficial for price. But 0.75 is a great buying price not current price 0.85 is safe and remembers after this spilt share may stop trading for few weeks due to new share issuing process.
Icici direct not banned ashco niulab icici direct code for this share is DATIND.

my holding is nil in ashco niulab industries.

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