Stock Picking - Art Or Science

If there is one Legal way to Become Rich early, it is by Investing in Stocks and Real Estate. In this Blog you will not see general news which are available at numerous sites, instead u will get filtered news and opinions which matter. Many a times some small but important news were overlooked because of simultaneous big event, I try to put all those news in my Blog. The Home Page shows posts of only last 10 days. To see all the posts click on the month in the Archive section.

Friday, January 13, 2006

Reliance Infra - Fully Reliable

Reliance Infra is now under the control of Mr. Mukesh Ambani.

Reliance Industrial Infrastructure Ltd has informed BSE that The Board of Directors of the Company, at its meeting held on January 10, 2006, accorded its consent to seek the approval of the Members of the Company for Reliance Industries Ltd ("RIL") to be recognised as the new Promoter of the Company in place of Shri. Satyapal Jain, the existing Promoter of the Company, and for change in control of the Company in favour of RIL. RIL has communicated its consent to the said proposal subject to the Company obtaining the Members approval in accordance with law.

This change would occur subject to passing by the Companys members of a special resolution through Postal Ballot under the provisions of Regulation 12 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ("Takeover Regulations").

RIL is already holding 46.23% of the paid-up equity share capital of the Company. No further shares of the Company are sought to be acquired by RIL at this stage.

Since the above would be within the scope of the provisos to Regulation 12 of the Takeover Regulations, RIL would not be required to make a public announcement / offer under the Takeover Regulations.

0 Comments:

DISCLAIMER

This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.

The information contained herein is from publicly available data or other sources believed to be reliable. While I would endeavour to update the information herein on reasonable basis, I am under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent me from doing so. I do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. I do not undertake to advise you as to any change of my views. I may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject me to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. I may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. I may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall I or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind.