According to sources, few buyers have shown interest and the promoter is demanding a slightly higher price. This may be a negotiation tactic.
An expected turnaround in its retail business will be an additional trigger for the stock which has given 80% returns in the last one year.
Merger is seen as more beneficial to Vedanta, and this along with a rebound in commodity prices is expected to help co improve performance in FY17.
Increased capacities will help in improving return on equity to 15.5% as against around 8-12% returns that can be generated from treasury operations.
Shares of BF Utilities surged a mammoth 13,480 per cent in two years from Rs 25 in November 2004 to an all-time high of Rs 3,395 in November 2006.
UltraTech Cement stock has fallen by 2.8% in the past 5 trading sessions compared with the 12.5% drop in Grasim post its merger announcement with AB Nuvo.
Grasim shareholders have been telling us that they need another growth engine like UltraTech. Finserv will be another growth engine for Grasim.
The combined market value of three largest companies — United Spirits, United Breweries and Radico Khaitan — crashed 30 per cent to Rs 55,392 crore from a year ago.
The combined market value of three largest companies--United Spirits, United Breweries and Radico Khaitan crashed 30% to ` . 55,392 crore from a year ago.
Two-step recast may involve merger of Grasim and parts of AB Nuvo, followed by hiving-off of Nuvo’s finance services business into separate firm.
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