Trying to average out his shares, man ends up buying the company

Averaging down the shares which basically mean buying more shares at a lower price than what you previously paid is a popular trend among investors especially during falling market. Hindenburg Research report on Adani has led to share price of all Adani Group companies including Adani Enterprise, Adani Ports, Adani Green, Adani Power etc. While Adani Ent and Adani Ports gained investors confidence to some extent, the Adani Power is still on downhill.

An investor, Ramesh Dhawan became the owner of the Adani Power as he kept buying more and more Adani Power shares trying to average the shares. Reportedly, Ramesh Dhawan bought 1000 shares every-time Adani Power fell by over 5% and now Ramesh Dhawan has maximum number of shares, even more than Adani himself.

Ramesh Dhawan has more than 52% company’s equity. Speaking to The Fauxy, Ramesh Dhawan said “I don’t even know what company does, I just see the charts and trends and buy the shares, but now when I am the owner of the company, I’ll decide what kind of power the company will produce. It could be political power too

This isn’t a standalone of investors going crazy for their favourite company shares, earlier, a man bought the share of the Pharma company of which his doctor prescribed medicine of instead of buying the medicines. Read Here.

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