Money Tree

The Nambiars are raising their holding in BPL from 56% to 73% according to a news. The additional shares are a conversion of loan and are proposed to be taken up at Rs. 43 per share.

BPL is quoting at around Rs.33.50. After this news there was a spurt in the counter and the stock saw an upper freez (5%) early in the day. The stock is supposed to see some rally until it reaches Rs. 40.