The Central Government has proposed to issue the order that may lead to amalgamation of NSEL with Financial Technologies. Though this is in draft form at this stage, this has proven our logic wrong at this point in time. We think that the draft order if executed will lead to a large legal battle and that may not lead to any improvement till the time the legal battle is over.

We suggest to BOOK LOSS. We suggested buying Financial Technologies at Rs. 217 in our first report. Try to sell at lower circuit today (Rs. 169.65) or sell tomorrow.

Note: This central government proposal (draft) will be disputed till Supreme court. However, as the time will run in 5-10 years, we are suggesting a EXIT.

 

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