Technical view by Nooresh

LIC buys 4-5% stake in Responsive Industries and Rainbow Papers – Can this be another Welspun and Gitanjali

In the last 3 quarters we have seen LIC buying stakes in certain midcaps which may not have long track record or credentials.


Market rumours suggest that there are a lot of kickbacks involved and some inquiry 



rainbowThis is the shareholding of Rainbow Papers.


Will  be putting up a detailed post in the evening.


Such stake buys are nothing new and going on for decades. Leads to drop in the following stocks some time. So if you hold above two stocks then be careful.


This may not be a major concern for markets per se because this part of the book is very small to the size of LIC



AUGUST 10-11

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