Between y'day and today, Wendt has moved up by about 25% to Rs.1530.
As per last available public news,Carborundum's petition challenging 3M's indirect acquisition of 40% stake in wendt india as a result of the worldwide takeover of winterthur is pending before the chennai company law board bench.
Carborundum MD in an interview with CNBC had mentioned that they expect to resolve the issue with 3M out of court.
meanwhile 3M india listed subsidiary in a filing to the exchange has informed of a board action okaying a 200 cr debt for expansion.
one doesnt know if these developments are linked. However if they are, the price at which 3M may buy out Carborundum stake may be at a price upto Rs.2500 / share ( 200 cr / 8 lakh shares owned by Carborundum). If this happens, since it'll happen thru 3M india, there is a good possibility that wendt india may get merged with 3m india?
on the other hand, it is perfectly possible that these are not linked and the share price may settle down at earlier levels ?
All the makings of a potboiler !
As per last available public news,Carborundum's petition challenging 3M's indirect acquisition of 40% stake in wendt india as a result of the worldwide takeover of winterthur is pending before the chennai company law board bench.
Carborundum MD in an interview with CNBC had mentioned that they expect to resolve the issue with 3M out of court.
meanwhile 3M india listed subsidiary in a filing to the exchange has informed of a board action okaying a 200 cr debt for expansion.
one doesnt know if these developments are linked. However if they are, the price at which 3M may buy out Carborundum stake may be at a price upto Rs.2500 / share ( 200 cr / 8 lakh shares owned by Carborundum). If this happens, since it'll happen thru 3M india, there is a good possibility that wendt india may get merged with 3m india?
on the other hand, it is perfectly possible that these are not linked and the share price may settle down at earlier levels ?
All the makings of a potboiler !
At the time of writing this report, the author /his family have an investment interest in the stock mentioned above. Under no circumstance does the information in this report represent a recommendation to buy or sell the above-mentioned stock. This report has been prepared and issued on the basis of publicly available information, internally developed data & other sources believed to be reliable. This is just a suggestion solely for information purposes and does not constitute a solicitation to any person to buy or sell a security. While the information contained therein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Readers using the information contained herein are solely responsible for their actions and are advised to satisfy themselves before making any investments.
Indian shares are likely to witness a muted opening on Friday morning as the global markets look subdued with SGX Nifty trading 9 points lower @10033.50.capitalstars
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