For me , Long story in short , in case of Indus Ind Bank stock price , every rise in stock is a shorting opportunity !!!
The stock price appears to have already over-compensated ( > -30%)
for the amount of loss confirmed unofficially.
Also, there appears to be no risk of delinquency,
with bank proactively raising credit to handle any runs.
Thus, once the dust settles,
the stock price is due a growth spurt,
after the external auditor PWC officially publishes their report
confirming the leaked/speculated estimate of losses
and clarifying no further accounting inaccuracies (likely outcome at the moment).
@TIMEFRAME what’s you logic behind shorting the stock now?
- are you expecting the losses to be larger than what has been unofficially declared so far?
- are you expecting other accounting discrepancies to be uncovered in the near future?
- something else?
Also, what instrument(s) did / will you use to short Indus Ind bank stock? For how long?
Thing is that i don;t trust PWC, many forgotten their malpractices , they had a fight with Reliance group , Just because of PWC being American company , they are able to run their show, 2nd , In my experience once there is a scam or some thing like happens to a company it takes many years to recover and Indusind had this kind of issue earlier also probably around 2005 -06 , but i don’t have the details , i come to know by one of the experienced investor.
By Long covered PUT Options , as long as Indusind being in FNO
You said that about nifty at 22k too. Did you short?
Nah. Not required. I never ask for screenshots or proof.