In last few days, many short-term investors have tried to subscribe those IPOs where they could earn great listing gains. But as per my analysis, none of the IPO has potential to give a good return to their subscribers in short-term or on listing day. However, I have found one stock which you can use as a bet for great returns.
That stock for a short-term bet is of Rcom. Recently, Sale of wireless assets to Jio deal had boost the stock price up to Rs 40 from a lifetime low of Rs 9.60 in a few weeks. However, now stock is consolidating around Rs 25 due to some issues. Ericsson, rcom’s operational and unsecured lender had filed petition against Rcom in Court for not paying the remain dues. And in the response to petition, Arbitration court has stay the wireless asset sale of Rcom to Jio.
To complete the deal before the march end, rcom has now filed another case against arbitration court order in the Supreme court. The court will now hear the case tomorrow. Meanwhile, to support Rcom petition in Supreme court, SBI led lenders have also filed same petition for the approval of asset sale to Jio.
Now, the opportunity in stock is that if the Supreme allowed the sale of assets to Jio, then stock may easily burst for the target of Rs 35-40. But if the asset sale is also declined by Supreme court, than stock may take a dip cut up to Rs 18. So, in this trade, possibility is higher of achieving target of Rs 40 because lenders are also in support of rcom. And in lower side, the risk is also not high. So, buying rcom at current levels could be a great bet for Short term.
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