The winners of the Reliance Naval sweepstake..
They failed to make the payment on time and asked for an extension.
That extension expires on 6th Sept.
If they are going to take over they immediately get world class shipbuilding experience + infrastructure.
If they fail the stock could collapse again and maybe ADAG then gets to bid to keep its asset.. (Its political hence risky)
Long above 310 with a strict stoploss below 300. Keeping it super tight for now..
If you believe in the co then can obviously sell half at 300 andhold the other half to 280 atleast (my preferred option)
The stock is already in momentum but there is tons of upside available in its existing business + if they can successfully take over Rel Naval.
They failed to make the payment on time and asked for an extension.
That extension expires on 6th Sept.
If they are going to take over they immediately get world class shipbuilding experience + infrastructure.
If they fail the stock could collapse again and maybe ADAG then gets to bid to keep its asset.. (Its political hence risky)
Long above 310 with a strict stoploss below 300. Keeping it super tight for now..
If you believe in the co then can obviously sell half at 300 andhold the other half to 280 atleast (my preferred option)
The stock is already in momentum but there is tons of upside available in its existing business + if they can successfully take over Rel Naval.