Religare Enterprise: Update

Lenders had invoked pledge of promoter shares (25%). And had been selling aggressively in open market which was dragging down the share price.
As per our analysis, selling by lenders getting over. Stock has been accumulated by strong hands as major positive developments should unfold in coming weeks.
We are fairly confident that stock can be in 3 digits in few months

ADD

Denofwealth Exclusive:

*Mktcap 820cr: Expected Cash Inflow 1300cr*

RELIGARE ENTERPRISE LTD

REL has signed agreement with True North ( formerly Value India Fund) to sell its Health Insurance business (RHI) for 1300 Crores. When this agreement was done, stock was trading at 230-240.

As per our reliable sources, *IRDA approval may come as early as next week*

Current mktcap of REL is just 820 Cr whereas co will get 1300 Cr from True North.
Stock is lying low due to selling of pledged shared by banks. Huge volumes as stock being accumulated by knowledgeable sources

Stock should cross 70-75 in next 2 months or so

REL has several other assets. Again valuation of these assets MUCH? MORE than its mktcap

_Buying strongly recommended as stock can cross 100 in 3-6 months_