Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Posted: 11/Nov/2007 at 9:25am
Good old days!
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
The root of Vijay Sheth’s problems can be
traced back to June last year when he pledged most of his 16% stake to IL&FS
and Motilal Oswal. A banker said his outstanding is Rs 200 crore to IL&FS
alone. His outstanding to Motilal Oswal could not be ascertained though an
industry source said it could be Rs 75-100 crore. At the ruling market price of
Rs 830-Rs 850 a share, his shareholding in June last year was worth Rs 500
crore.
The problem began when the lenders gave margin calls as the
valuation of the collateral fell below the loan amount. This has put Mr Sheth in
a fix as he does not have more shares to put up as collateral. The valuation of
the collateral is around Rs 175 crore at Thursday’s price of the stock.
Life can only be understood backwards—but it must be lived forwards
Joined: 21/Dec/2007
Location: India
Online Status: Offline
Posts: 649
Posted: 04/Sep/2011 at 6:36pm
I was checking icicibank for loan against shares. The approved list of shares is not available on website. I doubt whether TEDXI stocks are part of their approved list since these are small/mid caps. Any one has any idea/details about loan against shares from icici bank?
If a business does well, the stock eventually follows:Warren Buffett
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Posted: 04/Sep/2011 at 7:10pm
Except Hawkins and Page they take almost all other stocks.
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
Joined: 31/Jul/2009
Location: India
Online Status: Offline
Posts: 1202
Posted: 04/Sep/2011 at 7:14pm
Originally posted by vijayM
I was checking icicibank for loan against shares. The approved list of shares is not available on website. I doubt whether TEDXI stocks are part of their approved list since these are small/mid caps. Any one has any idea/details about loan against shares from icici bank?
Hi Vijay,
I have opened a LAS(Loan against share) account wih ICICI recently just to keep the extra money in my hand in case market falls. You can get up to 20 lakhs as loan. I haven't used them so far. The interest rate is 13% for which I signed up. It has moved up to 13.5% now.
Hawkins and Page are not in the list of approved shares. I can send you the list of scripts. Please pm me your perosnal mailid.
Regards,
Raj
Wall Street makes money by it's activity, while you can make money by your in-activity - Warren Buffett
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