InvestorQ : Is JBF Industries likely to be taken over by Reliance Industries?
Rutuja Nigam made post

Is JBF Industries likely to be taken over by Reliance Industries?

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3 months ago
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Nothing is confirmed as yet either by JBF industries or by Reliance, although the market is rife with expectations and several news channels have hinted at that possibility. In response, the stock of JBF Industries has been locked on 5% upper circuit for the second straight day on Thursday 23 September. The news reports suggest that Reliance Industries may look to take over JBF Industries in conjunction with CFM Asset Reconstruction Company.

In fact, JBF has already gained 15% in the just 3 trading sessions. As is known, JBF is a chemical manufacturer and it has been trading in the trade-to-trade or T2T segment on the BSE. When queried about the deal, Reliance has denied reports of any specific bid for JBF, although they remain open to opportunities. On the other hand, JBF has only informed exchanges about an offer from CFM ARC, with no mention of Reliance anywhere.

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