"It was bad day in court for the Securities and Exchange Board of India, or Sebi. The Securities Appellate Tribunal, or SAT, has set aside Sebi's order on the Heidelberg's open offer for Mysore Cement.
Cement major Heidelberg can finally seal its deal of acquiring a majority stake in Mysore Cements. That's because nearly a year after it first made its open offer for the Indian cement company, SAT has ruled against regulator Sebi's directive on the offer.
The market regulator was of the view that Heidelberg needs to pay minority shareholders an additional amount as non-compete fees. Heidelberg paid the promoters of Mysore Cements Rs 72.5 per share which included a non-compete fee of Rs 14.5. In comparison to this, minority shareholders were paid just Rs 58 per share. Sebi was seeking to eliminate this difference in pricing." Buy for a target of Rs 45 in the SHORT TERM !!
At present the most BUZZING STOCK is FIRST WINNER INDUSTRIES LIMITED Cmp 97 (BUY now).many BULK DEALS are taking place. Bihar Sponge 4th U.C
No comments:
Post a Comment