Friday, February 27, 2009

Reliance - RPL Merger Move

Reliance - RPL Merger Move

Wow... It was expected for a long time., but the timing of it was real surprise. It is the first time in recent past that insiders did not get a clue of this entire episode and it can be seen from the market volume data for the entire week. Satyam saga still playing on minds, i suppose !

It is going to be advantage Reliance when compared to RPL shareholders on March 2nd. It could be a good tax saving move for Reliance as a whole. Does this move indicate SEZ tax holiday saga could get over by 2010?

I love these guys - this is the only group which extracts work from CAs & MBAs to full extent !

Update on March 2:

16:1 swap ratio announced just a while away. Lacks punch for stock market movement. But in line with market prices !

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