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November 11, 2014

Is Venus remedies a sinking ship

Venus remedies came out with an announcement of Swiss approval for the Market Authorization for Meropenem from SWITZERLAND

http://www.bseindia.com/xml-data/corpfiling/AttachLive/Venus_Remedies_Ltd_111114.pdf

Post the announcement and the flash in all news hungry stock channels the stock spurted.At the end of the day stock closed up 1% down 4% from its intraday high.

Recently the company has been in news for its rating being downgraded by CRISIL to D 
 technically means a potential default.

Venus had in past defaulted on its FCCB payments and then did Out of court settlements with the FCCB owners

Today when the company posted a rosy picture to all the traders in the market someone was silently selling


 The block deal in nse showed who was selling the stock.It was one of the promoters who sold the stock in open market after sending a positive media announcement.When the promoter wants to jump the ship I rest my case.

 11/11/2014 VENUSREM      Venus Remedies Limited     PAWAN      CHAUDHARY  SELL 72000  263.87   







 

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