The central bank had imposed the conditions on RFL in January 2018 over irregularities observed during the inspection for its position as on March 31, 2017
The market needs to reclaim and sustain above the 20-day EMA to witness a further northward journey in the upcoming sessions. Below are some short-term trading ideas to consider.
Stocks to Watch, 21 May: Stocks like Gland Pharma, Dixon Technologies, KPR Mills, IRCON International, Nazara Technologies, Edelweiss Financial Services, Protean eGov Technologies, Axiscades Technologies, Accretion Pharmaceuticals, NHPC, United Spirits, Aster DM Healthcare, and Gujarat State Fertilizers & Chemicals will be in focus on May 21.
Stocks to Watch, Mar 18: Stocks like Raymond Lifestyle, Aditya Birla Real Estate, Samvardhana Motherson International, NBCC (India), Coffee Day Enterprises, Triveni Engineering & Industries, Morepen Laboratories, Life Insurance Corporation of India, Suryoday Small Finance Bank, Religare Enterprises, and Gopal Snacks will be in focus on March 18.
Religare Enterprises has decided to review the past operating practices, and is appointing legal advisors to seek improvements around systems, and to identify any potential instances of misconduct by 'certain current and/or ex-employees'.
Following the open offer, the Burman's now own a 25.16 percent stake in Religare Enterprises.
Stocks To Watch, Feb 21: Stocks like CIE Automotive India, Sanofi Consumer Healthcare, Delta Corp, Mahindra and Mahindra, Grindwell Norton, Keystone Realtors, HG Infra Engineering, Tanla Platforms, Samvardhana Motherson International, ITI, NTPC Green Energy, Tata Steel, and Narayana Hrudayalaya will be in focus on February 21.
The regulator's order, passed on February 14, noted the lack of necessary approvals and financial ability as reasons
Stocks To Watch, Feb 14: Stocks like Kalpataru Projects, Hindustan Construction Company, Nirlon, Nazara Technologies, Deepak Nitrite, Allcargo Logistics, R Systems International, Manappuram Finance, Titagarh Rail Systems, Carborundum Universal, Gujarat Pipavav Port, UltraTech Cement, and Mahindra Lifespace will be in focus on February 14.
Last month, Gaekwad had made a Rs 5,000-crore competing offer for Religare acquisition against an open offer declared by the Burman family
Religare Enterprises cited a report by the Scrutinizer, which said that 97% votes were cast against the resolution seeking reappointment of Rashmi Saluja on the board of REL, dated February 7.
Gaekwad was earlier asked by the court to deposit the token Rs 600 cr by Wednesday
The bearish sentiment may persist, given the index's breach of the 50 and 200-day EMAs, alongside the continuation of the lower highs-lower lows formation. Below are some trading ideas for the near term.
Danny Gakewad in his application has proposed that he is 'ready and willing to submit a genuine competing offer' for shares of Religare Enterprises at a price of Rs 275 per share.
Stocks To Watch, Jan 27: Stocks like Balkrishna Industries, JK Cement, IDFC First Bank, Macrotech Developers, Trident, NTPC Green Energy, CreditAccess Grameen, DCB Bank, Bank of India, Torrent Pharmaceuticals, Godrej Consumer Products, RPP Infra Projects, Refex Industries, and Unichem Laboratories will be in focus on January 27.
Last month, the Reserve Bank approved the open offer of the Burman family — the promoters of FMCG major Dabur — to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL)
The Burmans have already secured approvals from the Competition Commission of India (CCI), the Insurance Regulatory and Development Authority of India (IRDAI), stock exchanges, RBI and Sebi for the open offer.
Stocks To Watch Today, Dec 26: Stocks like Bharat Forge, EPACK Durable. UltraTech Cement, Goa Carbon, Macrotech Developers, Religare Enterprises, Aditya Birla Capital, Snowman Logistics, Kalyani Cast-Tech, and Manorama Industries will also be in focus on December 26.
The sentiment remains bearish, but considering the severe fall last week, consolidation and range-bound trade are possible. Below are some trading ideas for the near term.
Stocks like Rail Vikas Nigam, Varun Beverages, Vedanta, Abbott India, Hindustan Construction Company, Gabriel Pet Straps, Everest Industries, RailTel Corporation of India, Wipro, Hitech Corporation, SRF, and GMR Airports Infrastructure will also be in focus on December 17.
The dispute began when the Burman Group acquired a substantial stake in the company, triggering an open offer.