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"Curiously, the first information report (FIR) comes at a time when the Burman family has sought to increase its existing shareholding of 21.24% in Religare Enterprises and launched a legitimate open offer under the Sebi takeover code," the Burman family said in a statement Tuesday. ....
Recent revelations that Dr. Saluja sold Religare shares after meeting a Burman family representative just before the open offer was announced could have two serious consequences. ....
In an email sent to Sebi and bourses on November 8 that has been reviewed by ET, four entities - MB Finmart, Puran Associates, VIC Enterprises and Milky Investment and Trading Co - that collectively hold 21.24% in Religare said Sal chairperson Rashmi Saluja sold a portion of her personal holdings in the firm soon after a meeting with a representative of the Burmans. ....
The Burmans’ accusations come after reports of Religare independent directors levelling allegations of fraud and other breaches against the Burmans emerged on Thursday. ....
The stock is now trading near the upper end of the 2-year consolidation range. A break above Rs 2724, which was the intraday high of 23 September 2021, could push the stock to fresh record highs. In terms of price action, the stock is trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100, and 200-DMA - which is a positive sign for the bulls. ....