Arbitrage opportunity in Just Dial
Broking firms are advising their retail clients to buy shares of Just Dial to gain from the arbitrage opportunity created by the open offer launched by the arm of Reliance Industries. The potential gains have narrowed as Just Dial’s shares have rallied 4 per cent last week. The open offer will be done at Rs 1,022.25, a 3 per cent premium to the last closing price of Rs 992.25 per share. A correction could improve scope for higher gains. The open offer follows acquisition of 41 per cent stake by Reliance Retail Ventures in
Broking firms are advising their retail clients to buy shares of Just Dial to gain from the arbitrage opportunity created by the open offer launched by the arm of Reliance Industries. The potential gains have narrowed as Just Dial’s shares have rallied 4 per cent last week. The open offer will be done at Rs 1,022.25, a 3 per cent premium to the last closing price of Rs 992.25 per share. A correction could improve scope for higher gains. The open offer follows acquisition of 41 per cent stake by Reliance Retail Ventures in