Well, I dont think a team will ever grow if members dont fight or question each other. But, the purpose must be for the team , of the team, by the team. You have to develop a sense that either the team wins or the team loses....no individuality over there. Basant sir is not to be thanked for TV-18......too petty a thing. If tomorrow he goes wrong in something, will you rise up against him or what........stocks are too petty a thing over bonding. In my opinion he has been a teacher par excellence. Just yesterday, I was having a discussion with my mentor cum employer cum guardian, and my dad just said that in stocks you just work out how much downside it has for when a thing will go up, no one knows.....I admire my dad's humility just as I do with basant sir. We must respect that markets may make them wrong anytime....they are no Gods, but they have an inspirtional value but at the end of the day we will like to be called by our names but will always liked to reminded that what we become is very hugely owed to our mentors. In markets, I may get into a stock which they wont like and yet outsmart them, but that shouldnt be used to belittle them. I generally never say good things about TED or basant sir, for I am of the strong opinion, what you think and feel for a person is always known by that person, and if you dont speak it the better he knows that......for me, its either we pass or we fail...I pass and you fail or i fail and you pass is not a scenario. I will never buy a dish or a nucleus but for people who have conviction, I will try to put my charting studies so that they may average properly. You have said something for ONGC.....trust you me, there are very very few stocks which carry as much value as does ONGC but am I wrong in backing this stock and its price has not moved......sure, I may be labelled a loser but I dont care, for deep down i have so much deep faith on this that I CANT BE LOSER IN THIS. So, brother prosperity, never worry for such incidents for at least you have been brave enough to question and Basant sir will never be wrong to you...believe you me, if there's anyone who has been a thorn in basant sir's discussion, it is vivek Sukhani and it is because I know this, i can say that dont have such illusions like he is angry or unforgiving.....

On a personal note Prosperity jee, your words were very sincere and I liked them a lot.

It may not be relevant here.....Not sure if this helps answer SmartCat's query...

 

Open season

 

Should investors press the sell button when open offers come at a premium to prevailing share prices? A ready reckoner.

 

According to Sebi data, there were 132 open offers in 2005, 105 open offers in 2006 and 67 offers so far this calendar year. In many cases, the acquiring companies have paid or are paying hefty premiums for buying out target companies.

 

In such a situation the million-rupee question for the shareholder of these companies is whether they should sell out to the acquiring company or hold on to their stake.

 

Analysts advise short-term investors to exit the target company. However, long-term and patient investors may stay invested depending on the fundamentals of the business.

 

When it comes to taking a decision of whether to hold or sell out, investors should consider factors like target company’s competitive position, growth prospects, industry outlook, premium offered, valuations, the acquirer entity and management control of the target company.

 

If the acquirer has a substantial stake in the target company after open offer, there is a possibility of de-listing of the shares in the future.

 

Says Agarwal, “Most MNCs look at open offers to delist from the bourses and to do away with the various regulatory norms.” For example, companies like Philips and Cadbury have been delisted.

 

If the promoters are planning to delist the company, there is no reason to be in the stock.

 

Also, investors have to remember that when they tender shares in open offer, the tax liability is higher than what it would be were they to sell on the stock market.

 

Source: BS

 

WHAT THEY OFFERED?   Company Acquirer Open offer price (Rs) Closing price# (Rs) CMP* (Rs) CY2005 02-Feb United Breweries Scottish & Newcastle 57.50 42.28 294.45 22-Mar ACC Holcim 370.00 356.60 1065.90 31-Mar Crisil Standard & Poor's 680.00 678.80 3675.00 05-Apr Glaxo Pharma Glaxo, UK 800.00 730.15 1169.60 07-May Adlabs Reliance Capital 183.00 257.40 471.77 16-May Shriram Transport ChrysCapital 35.00 58.65 168.05 19-May Ambuja Cem Eastern Holcim 70.00 69.50 113.35 CY2006 02-Jan Thomas Cook Dubai Financial 61.95 58.70 63.40 02-Feb Gujarat Ambuja Holcim 90.64 85.15 133.45 16-Feb Shriram Transport Newbridge 112.75 111.30 168.05 25-Jul Mysore Cements Heidelberg Cement 72.50 49.80 50.80 30-Aug Matrix Labs Mylan Laboratories 306.00 275.00 239.58 10-Nov IL&FS Investsmart E*Trade 210.00 195.20 190.32 CY2007 05-Mar MICO Robert Bosch 4600.00 3841.50 4096.00 05-Mar Sesa Goa Vedanta Resources 2036.00 1749.35 1944.00 07-Mar Lanxess ABS Ineos group 201.00 189.65 194.55 21-Mar Geojit Financial BNP Paribas 27.50 35.00 42.02 06-Jun Deccan Aviation Kingfisher Airlines 155.00 135.15 140.47 27-Jun Esab India Esab Holdings 426.00 449.75 495.63 28-Jun Chettinad Cement Promoters 450.00 455.35 441.75 21-Aug Gokaldas Exports Blackstone Group 275.00 252.10 254.03 27-Aug Ambuja Cements Holcim 154.00 133.20 133.45 Note: The list includes open offers of well-known companies * As on Friday, August 31, # As on the date of announcement of open offer CY: Calendar Year

 

Source: BS

 

 

Small Note: Most/All of these are NOT delisting candidates - otherwise how do we know their market price if they really are delisted after the open offer ...