Aprrox 43% down within a mnth. Why?27 Jul 2015 15:35
Following is the data from last 3 months:
27 may - Share Price: 570/80
27 June - Share Price:570/580
27 July - Share Price:398
The primary reasons for the fall in the VED share prices:
1. Impact of general Metal and Minning Industry slowdown
2. Downward trend of Oil prices (Will continue probabaly until no idea when)
3. Jitters in Chinese market
4. Ved/Cairn India M&A issue
5. Impact of Dividend payout
I don't see Ved going back to 450/60 range in next few months (until end of this year )because of following reasons
(a) Downward trend in Oil prices
(b) Jitters in Chinese market including other Asian markets is going to persit until Announcement of US Fed rate hike
(C) Commodities market is not doing great and I don't expect it to comeup until end of this year now.
However, what is the bottom point for Ved ? 300 ? It can't be predicted !
Also, I would want to hear some disagreements on this.