Wednesday, March 4, 2015

Pipavav acquired by Reliance Infra

Was always a big supporter of Pipavav. It seemed to be a big idea (defence ship etc).
Was hopeful of a strong promoter infusion (L&T,Munjals etc).

Today's news is that Reliance Infra has taken over Pipavav
http://www.moneycontrol.com/news/press-release/rel-infra-acquires-pipavav-defenceoffshore-engineering-co_1320890.html

The stock price has crashed 10% since the open offer is at 63 Rs.

However, would like to see how this pans out.

I still have high hopes on Pipavav since to make something of this scale requires a lot of time and money.

They have done the tough part...lets hope they grow big..

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