Joined: 19/Sep/2006
Location: United States
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Posts: 2296
Posted: 25/Jul/2007 at 6:09pm
I heard they sold some/all not sure holdings in Reliance Energy not sure whether it is accounted in this quarter ? Any details?
BTW, Marathon ambani will do lot of cross selling for mutual funds/insurance etc thru the reliance money/reliance infocomm and is growing aggressively in broking business, insurance has done well and captured good market share.
I heard they sold some/all not sure holdings in Reliance Energy not sure whether it is accounted in this quarter ? Any details?
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Rel Cap sold off its entire holding in Rel Energy bcoz marathon Ambani wants to increase promoter holdings.Rel Energy is just going up and up...Dont know whether the capital gains from sale boosted profits..but overall excellent result!!!
It has surprised everyone with the stock price movement..Gone up 29% since we started this thread..
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett
Joined: 19/Sep/2006
Location: United States
Online Status: Offline
Posts: 606
Posted: 25/Jul/2007 at 11:11pm
No doubt about it Kulman ji !
Often we forget there's a company behind every stock,and there's only one reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.
P Lynch
Anil Ambani has mentioned that if the policy permits, he would be interested in the banking space..Who knows post-2009 when the banking industry is opened, he might acquire some bank..But this kanjoos Ambani would not be ready to pay more...like Hutch
His aim is to become Goldman Sachs or Merill Lynch of India and not Berkshire...thats why he is strengthing its retail...
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett
Joined: 29/Mar/2007
Location: India
Online Status: Offline
Posts: 4243
Posted: 26/Jul/2007 at 12:45pm
I have reasons to believe that Rel Cap won't acquire a bank - it will just start from scratch - similar to what Kotak did. There are very few banks that fits the profile and scale of something that RelCap would want to achieve.
UTI Bank might be a good choice but government owned LIC/SUUTI/GIC own almost 40% of the equity. It is not an easy takeover candidate for an outsider. Yes Bank's management won't sell. CBoP might be a good idea but it is still a small bank - RelCap won't get a significantly large headstart by making an acquisition. Most of other regional banks like Karnataka Bank/Bank of Rajasthan etc are not a proper cultural fit for Rel Cap.
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