Byline: R.Yegya Narayanan
Marketmen keenly await ITC, Reliance move
Though talks of any tug of war between two cash-rich suitors for stake hike in EIH Ltd that runs Oberoi chain of luxury hotels appears to be premature, the interest in EIH seems to be continuing with the stock registering a huge volume. However, the share price has started retreating.
The interest in the counter was triggered when SEBI unveiled the new Takeover Code on July 28 under which the trigger threshold for an open offer was raised from the existing 15 per cent to 25 per cent.
ITC's comment & after
The interest in the EIH counter gained momentum by the …