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As wrote Yesterday, Nifty managed to get through 5690 and touched 5750. Now 5720 act as a good support and 5754 should Resist. Cross above 5754 may see 5790. Lets See.
>>> MC-DOWELL - FOLLOW UP <<
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The above Image Posted in Blog on 23rd March, 2013.
Also today Posed the following message on Face Book page.
United Spirits-If 100% of Promoter Equity Is Pledged Can There Be A Take-Over?
-Why should bankers release pledge if the borrower is a defaulter
-If beneficial ownership is not with the Promoter, how can he Sell Equity and invoke a Take-Over
-Why should Bankers agree to Sell at Rs 1440 when the CMP is Rs 1850?
-If Bankers Sell All The stock in the open market, how does the promoter execute his part of the take-over deal?
Diageo and Mallya agreed on a deal in November last year under which Diageo agreed to buy majority stake in USL. Mr Mallya owns about 27% in USL but most of it is pledged with the banks including SBI. Banks have lent close to Rs 7500 crore and decided to take every measure to recover their dues in January. "We have sold a part of shares of USL and we have received notice from UB Holding retrains banks from selling shares.--
But SBI decided to go ahead with selling remain of the shares. We are very confident that the court will rule in our favour," said a senior official from State Bank of India who declined to be quoted. Justice SJ Kathawala will hear the case on April 2.
The move comes within weeks of the finance minister asking the banks to act against rich promoters of ailing companies.
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Mc Dowell broken the Head and Shoulder and Resistance at 1880. If Resistance not taken out, possible fall in coming days. Lets See
