Wrong Again

This is not the only time when media reports about the Anil Dhirubhai Ambani Group (ADAG) turned out to be mysteriously wrong. On 18 March 2008, The Economic Times reported that Reliance Energy Limited (REL) “may be close to inking an agreement with India Bulls Real Estate (IBREL) to jointly develop a 6,000-acre multi-product SEZ in Maharashtra’s Raigad district”. A report as precise as that,...

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Prime Numbers

The high-profile television appearances of Prime Securities’ boss, N Jayakumar, give this company a high mindshare among investors and, hence, higher expectations. A few weeks ago, the company had admitted to a mark-to-market loss of Rs23 crore for liabilities on account of investment in securities and a Rs three crore loss in derivatives trading. This declaration happened only after its...

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Other Denials

Gokaldas Exports denied a media report that the Blackstone group is in discussions with the company about possible delisting saying it was ‘purely speculative’ and there was ‘no such discussion in the Board’. Well, boards do not initiate discussions, they usually ratify them, so we will wait and watch.

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