ICICI in talks to sell entire stake in 3IINFOTECH-Headline news

http://www.3i-infotech.com/content/index.aspx  3IINFOTECH is a global Information Technology company which provides technology solutions to over 1,500 customers in more than 50 countries across 5 continents, spanning a range of verticals - Banking , Insurance , Capital Market , Mutual Funds , Government, with 8% of the revenue coming from ICICIBANK.

ICICI in talks to sell entire stake in 3IINFOTECH-Headline news

Carlyle and KKR have shown interest in buying ICICI’s 27% stake in 3i Infotech. A potential acquisition will also require the buyer to launch a mandatory 20% open offer, taking the total investment to Rs 800-Rs 900 crore, the person said on condition of anonymity. http://economictimes.indiatimes.com/infotech/ites/ICICI-in-talks-to-sell-entire-stake-in-3i-Infotech/articleshow/5312205.cms

ICICI has already appointed PricewaterhouseCoopers to advise it on the sale, the investment banker said.

Technically the stock has started to show strength with Rs.78 becoming strong support on closing basis the stock can give a target of Rs.120 and above in next 12-18months and with low interest regime I am happy with a return of 20-25% in a year anything above which would be excellent.

Caution: 3IINFO is our Diwali pick and many following me should be holding this stock, ICICIBANK wanted to exit non-core business and already they have sold stake in open market and LIC also brought sake so there is nothing new about this stock. Please take informed decision based on your own judgement.

http://akprabhakar.blogspot.com/2009/10/happy-diwali-happy-investing.html


What about this Diwali?


This time around I am not so bullish about the market so we would keep the picks simple. HOTELLEELA, CASTROL, MUNDRAPORT, TATATEA, NTPC, 3IINFO, IGL, GAIL, HINDUNILVR, IFCI would be my bets which look good from 1 year perspective till 2010Diwali. Accumulate in dips. Happy Diwali and Happy Investing!!!