I Have Just Purchased Satyam Shares Today And Some Online News Portals Report That The Stock…?
July 7th, 2009 | by Frenday |These online portals (specially reuters) report that the Stock Exchange will delist this company from the main Index the Nifty 50 as well as the CNX 100 and 500. So since I’ve purchased this at 39.20 (the current closing price was 40.something) whats to happen to this… Is this expected to go down to 0, or will the weight-age of the stock shift from Nifty 50 to some other adjoining index such as the CNXIT. Please help me out here, my broker and affiliated sub broker is Angel Services and as everyone knows they are dumbarses, therefore the experts here are my last resort, I also have about 2,000 shares purchased at about INR 499.10/each, and I just purchased 4,000 more today at INR 39.20 / each to average my previous loss. If you guys think that a takeover is expected, I can hold the stock and wait on a long term basis for about 5 to even 15 years (if the stock market lives by then). But I surely hope that the company won’t declare itself bankrupt 
. I’ve spent more than half of my life savings on this crappy operated stock.
Please advise
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2 Responses to “I Have Just Purchased Satyam Shares Today And Some Online News Portals Report That The Stock…?”
By Live Music Videos on Jul 7, 2009 | Reply
If Satyam turns out to be like Enron. Then its shares will become worthless.
But it’s hard to know now just how much fraud went on in this company and whether this company is solvent now or not. And for this reason the New York Stock exchange halted trading in Satyam shares indefinitely, until more is known.http://www.reuters.com/article/wtMostRea…
When you don’t know what exactly the situation is. Then the best you can do is guess. And your guess is as good as anybody else’s.
I suggest that you make your own decisions and not follow the advice of other people who probably don’t know any more than you know.
By Ted on Jul 7, 2009 | Reply
Sorry, but it seems there is nothing to take over.