| The Securities and Exchange Board of India (Sebi) is investigating trading in Reliance Petroleum (RPL) stock on the bourses relating to the sale of 4.01 per cent in the company by parent Mukesh Ambani-promoted Reliance Industries last November. |
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| “Sebi has informed that it has initiated an examination in the matter,” Minister of State for Finance Pawan Kumar Bansal said in the Rajya Sabha on Tuesday. |
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| The minister was responding to a question about whether the government had taken action against the promoters, or affiliates of Reliance Industries regarding the “recent mammoth insider trading activities” in its Reliance Petroleum unit. |
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| In a statement Reliance Industries said: “Reliance Industries Ltd and its group companies have complied with all the rules and regulations and will cooperate and provide all the necessary information to the concerned authorities.” |
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| Reliance Industries sold 4.01 per cent (180.4 million shares) stake in RPL for Rs 4,023 crore, riding high on massive run-up in the subsidiaries’ share prices during that time. |
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 The RPL stock price, which hit a life-high of Rs 295 in November, is now quoting nearly 50 per cent below the peak at Rs 152 on the Bombay Stock Exchange on Tuesday.Reliance Industries’ holding in RPL came down from 75 per cent to 70.99 per cent after the stake sale. In a communiqué to stock exchanges to announce the stake sale, Reliance Industries had said the sale helped to broadbase RPL’s shareholding. |
Short Term trading is about trading in the direction of the market trend. Put simply: Buy when the main trend is UP and Sell when the trend is Down. This is based on technical analysis. A basic moving average on a time frame chart will show the direction of the securities movement. This is not rocket science; it's basic visual realization.
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective. - Warren Buffet
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