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I did book profit yesterday at 356.10, now in the green with a small holding which I had since 2006, averaging did help me in this case. Thanks for your prompt advices from time to time....
I find that a number of baorders had this problem yesterday....
BSE Announcements on Novartis India
Posted by :
MMB Messenger
DSP Merrill Lynch Ltd ("Manager to the Offer") for & on behalf of Novartis AG ("Acquirer") has issued this Public Announcement ("PA") to the shareholders of Novartis India Ltd ("Target Company"), pursuant to and in compliance with among others, Regulation 11(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations" or "Regulations").
The Offer:
The Acquirer is making a voluntary open offer ("Offer" of "Open Offer") to the shareholders of the Target Company to acquire up to 12,464,710 equity shares of Rs 5/- each of the Target Company ("Shares"), representing up to 39% of the equity share capital of the Target Company. Upon completion of the Offer, assuming full acceptance of the offer, the Acquirer will hold 28,742,147 Shares in the Target Company representing 89.93% of the equity share capital of the Target Company.
The Offer is being made at a price of Rs 351.00 (Rupees Three Hundred & Fifty One only) for each Share ("Offer Price"), to be paid in cash, in accordance with the provisions of the Regulations & subject to the terms & conditions mentioned in PA & the terms & conditions that will be set out in the letter of offer in relation to the Offer ("Letter of Offer").
Schedule of Activities:
Specified Date - April 24, 2009
Date of Opening of the Offer - May 14, 2009
Date of Closing of the Offer - June 03, 2009...
I cannot say. Yesterday I posted one msg to robin_gupta and it was posted in the inbox of tara 23.
One msg from a boarder posted on Akruti thread was posted to me in Sterlite thread. Surprised....
Dear VKK4,
What a surprise ?
I also do not understand how it can happen like this.
...
Somehow, I did not get yr msg in my inbox. I do not know, how. I got it only from yr inbox.
Let us wait....
Dear VKK4,
thanks for your kind advise and i also have a feeling Novarites will not get much stocks if buy back price is kept at 351.
It has to be more a than 500 by all means.
Today it crossed 351 and volumes were not that high. ...
Please continue to hold this share, they hv to revise their buy back price....
Share price has gone up to 356/- now....
BSE Announcements on Novartis India
Posted by :
punit1255They do not know what is the worth as it was at 245 a firtnight back Sir...
Dear VKK$,
Do you think price for buy back announced is correct or they have to revise the same after one more week of announcement.
Your views are most imp for me as I was very much tempted to book long term profit in this stock at 317.
I am still completely invested in this counter a son date...
I was really surprised to read announcement by this company. I had never expected buy back from this management.
I am holding this stock for a quite along period.
I do think price of buy back is justified 351 ie 7 USD/Shares.
Pl do not think of surrendering this stock.Buyback price has to be more than 500 m by all means...
Tomorrow will b a different day and fresh bids and offers will b there....
I think today at this counter block buying at a fixed price of 330.70 (20% up over the prevoius closing) was going on all the time, however the effective buying volume / trade was of only 15894 stocks. Will the block buying for the remaining quantity of 212722 continue tomorrow as well and will it be at the same price or the bid price will be increased ?...
Thanks for the compliments....
