Huge loss in buying shares of ADANI ENTERPRISES which was being traded at about 400-600% higher value than its actual value.

Complaint Date:
By:
Category: Others

Company Name: ,

Sir,

I was searching for a plate-form to register my complaint against the irregularity faced on 03/06/2015 in buying the shares of ADANI ENTERPRISES. So I had to write to you to protect the vested interests of common investors who feel trapped in a racket and feel cheated.

Sir,On 03/06/2015, at 0915 hrs. I just thought to buy shares of ADANI ENTERPRISES. Till that time, I was not knowing that it has demerged. It opens at a price of about 500 -600. I dared to buy it at market price thinking that if a share is available at a certain price then it should be its justified value as per market.

After about one hour when I checked its price I found it had fallen about 80% to the value of about 120.

By that time I found that I have lost my about 70% of investment in moments. In the evening what I found that the share of ADANI ENTERPRISES had demerged on 02nd June 2015 , so on 03/06/2015 its value should be around 100-120.

The whole episode took place in front of whole country rather whole world. The innocent people were cheated.

But NSE who is the regulating authority is mute till now.

Is not it the responsibility of the National Stock Exchange, to check and monitor at least for reputed companies, why a share is being traded at a 400 -600 % higher value after its demerger ?

I agree most of the people do not know much about the stock market. Will innocent people always suffer?

What If a customer goes to a shop. Should he be cheated by any means ?

It should have not happened. Whole world saw this and those who were not aware of demerger were cheated.

Sir, I feel, I have been trapped in the racket.

Please look into the matter and protect the interests of common investors. My submission is that all those who are involved in the racket should be strictly warned and those who are looser as a result of this racket should be compensated by considering the transactions done on that day at par at the final settled value of Rs. 106 on that day.

Please look into the matter and do justice.

Thanking in anticipation

Suresh Kumar Sharma

PAN no. AGOPS0098Q

Huge loss in buying shares of ADANI ENTERPRISES which was being traded at about 400-600% higher value than its actual value.
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