Aditya Birla Nuvo (ABIRLANUVO) bought on 26 May 2017 @ 1620.15 (in cash market).
It created a high on 6 June 2017 @ 1742.71 , but couldn’t withstand the selling pressure at resistance area.
still holding on 21 June @ 1685 as stock took the support on trend line & resumed its upward journey.
Profit 4 % approx in less than 1 month.
Update on 27 June 2017
still holding on 27 June @ 1811 as stock sky rocketed by breaking crucial resistance level of 1744. this will likely act a a support in future.
Profit 11.35 % approx in exact 1 month.
Latest Update on 1 September 2017
as a result of Aditya Birla Nuvo & Grasim merger schemes for AB Nuvo investor will receive Grasim shares.
<Upon the Scheme becoming effective and in consideration of the amalgamation of Aditya Birla Nuvo into Grasim Industries.
Grasim Industries shall issue and allot equity shares to the shareholders of Aditya Birla Nuvo in the share exchange ratio of 15 equity shares of Grasim Industries for every 10 equity Shares held in Aditya Birla Nuvo.> Read more
Received Grasim shares for AB Nuvo shares. Also as per the demerger of Aditya Birla Capital LTD (ABCL) from Grasim. Grasim holders will get ABCL shares.Read more
Aditya Birla Capital LTD was listed on 1 September 2017 on NSE & BSE. Also received ABCL shares on 1 September.
Due to this merger & demerger scheme there was a good rally in Grasim. & I was eager to have ABCL shares in my DP.
Last date of AB Nuvo as per Rediff money on 4 July 2017 is 1887.05 on NSE.
< Grasim chart >
Aditya Birla Capital LTD was listed on market at price 237.50 (NSE) & 248.1 (BSE)
There was a Buy on rumour & sell on news scenario unfolding in Grasim. As ABCL got listed there was a sharp fall in Grasim shares which triggered my STOP Loss @ 1225.45.
After calculating AB Nuvo, Grasim & Aditya Birla Capital LTD the entire trade generated a returns of 41 % approx.
Note – still holding Aditya Birla Capital LTD. Azim Premji firm has already bought 2.2% stake in Aditya Birla Capital for Rs700 crore Read more