Stocks

idfc overbought

Posted by : polavarapuad

Sir, whats the down side target you expect for re-entry, thanks, Anju.

Kolte Patil

Posted by : Ramakrishnan V

this sounds good.. thanks a lot rupesh...

Also i hold Geometric 1475 shares at 34.00.
I am waiting for 68.00, can i hold it? is that a good move?

A real Multibagger from Me

Posted by : hansal77

TO SODHAN,

Sorry mate. I dont have much info on Sparsh.

Buy - Gulf Oil sees realty business spinning money

Posted by : shrihari2020

Gulf Oil Corporation, a Hinduja group company, which is sitting on a land bank of 2,000 acres across the country, expects property development to emerge as a major vertical from this year and should become visible in the fourth quarter of this financial year.The company is also developing about 40 acres in Bangalore, including 10 acre commercial zone and an IT and ITeS SEZ spread over 30 acres.

PRATIBHA IND. AND SOME BULLISH STOCKS

Posted by : amresh_1973

pl give me your sugestion in pratibha inds.whether i shuold book profit around278/288 level for short term and renter around lowewr level when market get corrected.

query

Posted by : nadhi

Dear sd3,

Second option please.

Regards

Nadhi

ANOTHER DOWN C I R C U I T. .

Posted by : aakiurs

Dear Gold finger and other dreamers of Austral coke.

Check out NSE data and bulk deals that happened last week. Major promoter, Shri Hanuman Investments has sold lakhs no of shares.

They are offloading and poor retail investers are buying in dreams of thousands turning into lakhs.

Another case of pyramid saimira.

Big Money for Alok industries through land Deal

Posted by : aarun

Dear Jagishar, How are Alok Industries and Alok Realtors linked or related. Will it effect share movement of Alok Industries and in waht way. Please reply.

PRATIBHA IND. AND SOME BULLISH STOCKS

Posted by : amresh_1973

very very thanku rupesh

RIL offer an alternative to recast’

Posted by : bhusbhac

Source: The Economic Times dated 23rd November, 2009

RIL offer an alternative to recast’


‘IT APPEARS clear that recourse to the LyondellBasell balance sheet is unlikely given its already huge debt burden, which placed it in bankruptcy in the first place,’ said Darshan Desai, managing partner of Euromax Capital, a London-based investment banking firm.
One banker familiar with international transactions by Indian companies said it was likely that Reliance would raise money overseas. The actual acquisition, the person said, could be executed by a subsidiary located in a major overseas financial centre such as Singapore or London or even New York. Reliance may support the subsidiary by way of guarantees, or even a letter of comfort, a document in which the parent company pledges to back a subsidiary. The banker emphasised that he was not aware of the details of this particular transaction, but said recent major overseas acquisitions, such as Tata Steel’s purchase of Corus, had been carried out in this fashion.
’Also, the initial debt is likely to be raised internationally. But later, Indian banks are likely to be called upon to refinance the debt. That’s been the recent pattern,’ the banker said. There are also imponderables such as whether LyondellBasell will be merged with RIL. Such confusion may mean the stock markets may not react immediately as investors wait for more information to emerge.
In a statement issued on Saturday, LyondellBasell said the RIL offer could serve as an ‘alternative’ to a reorganisation plan the company had filed in a New York bankruptcy court in September. LyondellBasell said it would ‘continue to work with all parties to design an approach that maximises value for the company’s creditors through the pursuit of a confirmable plan of reorganisation and enhanced the financial strength of the reorganised company’. It kept mum on the size of the RIL offer.
The current reorganising plan hands over Lyondell-Basell to some of its secured creditors, referred to as senior lenders, in exchange for getting rid of US$ 17 billion of debt. The reorganisation plan also includes a US$ 2.5-billion rights offer to help the company out of bankruptcy, led by a group, including private equity funds such as Apollo Management, Ares Management and KKR.
LyondellBasell is privately owned by ProChemie GmbH, a JV of Access Industries and ProChemie Holding. The company suffered a net loss of US$ 7.3 billion on sales of US$ 50.7 billion in 2008. It filed for bankruptcy in January. The company’s unsecured creditors have challenged the bankruptcy process. An attempt to resolve differences between secured and unsecured creditors by way of mediation is on.
Analysts believe that RIL may not find it difficult to fund the purchase of LyondellBasell, although the target firm is 50% bigger. Mr Desai, the managing partner at Euromax Capital, a London-based investment banking firm, said the deal could be in the region of US$ 10-12 billion. ‘The size of the transaction appears to be in the range of US$ 10-12 billion. Reliance has ample funds for an acquisition of the size of LyondellBasell.’ It had recently raised about US$ 660 million in a share sale and is sitting on US$ 8 billion in treasury stock that can be sold, if required. Also, RIL has more than US$ 4 billion in cash. If RIL wants to double its current net debt-to-equity of 0.35, it can borrow another US$ 10 billion or around Rs 45,000 crore.
But acquisition of a bankrupt US company may be time consuming, said Akil Hirani, managing partner at Majmudar & Co. ‘It may lead to counter-offers by some creditors which will be a time-taking affair. Secondly, employee unions may pose problems. LyondellBasell has operations in over a dozen countries, including the EU where unions are strong. Also, the pension liabilities and environmental liabilities will be crucial,’ he said.
’RIL’s plan will have to get the US bankruptcy court order in such a way that it can sell off the non-core businesses of LyondellBasell, if required, as going concerns. RIL will have to deal with the non-productive units and it needs to get fresh lines of credit to infuse in LyondellBasell to turn it around. RIL should push for no riders attached to the deal,’ Mr Hirani suggested.
The LyondellBasell spokesperson told ET that the RIL offer would be presented to the committee of creditors as a potential alternative to the reorganisation plan. The next step would be to file an amended reorganisation plan and a disclosure statement, which would deal with creditor classes. This amended plan will have to be approved by creditors, he added.