Burman family’s open offer to acquire 26% additional stake in Religare Enterprises Ltd begins on January 27. The offer targets 9 crore shares, closing on February 7. Burmans currently hold a 25.12% stake. Announced in September 2023, the Rs 2,116-crore bid faced opposition from REL independent directors citing fraud allegations.
Nifty faces stiff resistance near 25,100; sector rotation is key
Markets remain cautious below the 25100 resistance, vulnerable to corrections and volatility. Sector rotation, profit protection, and modest leverage are key amid shifting momentum across