Mir Jafar (Jaffer?) was India’s greatest traitor who joined the British for getting the kingdom of Bengal. Similarly there were a few other traitors (Ambhi, joined Alexander to defeat Porus), Jinnah sided with the British…

We find it easy to criticize such people, but we have no clue under what pressure they were to do so, do we.

When we hear that a foreign promoter wants to buy the Indian promoter, we do enjoy that do we not? So when I heard that Pramerica is buying over the stake of Dhfl I was happy, and when I heard that Nippon is taking over the stake of Reliance, I was happy too. I bought the share at Rs. 189…or thereabouts (caveat, I am a small shareholder)..

Today I got a mail saying “Nippon Life Insurance…announed…stake increase to 75%”.

I was happy to have been a shareholder, and I realised that the share price had moved to Rs. 220 because an offer had to be made at Rs. 230. Good show, I thought to myself. Then I found that the news item which said Mr. Sikka and his team will continue to work….That was even better. The only thing that was a little upsetting about the team running this Amc was the instability of the promoter. In fact other than the negative news flow of the promoter, there was ONLY positive news about this fund house…

So here, like always happy that a good, big, stable, promoter is replacing the Indian promoter…and Nippon will have 75% of the shareholding..and the balance is of course the public shareholding.

So happy to work the Nippon Asset management Company Limited….oops I have no clue what will be the new name…but I am assuming that the Reliance will be dropped. This is a new beginning for the team – and it is important to remember that… Reliance Nippon is the fifth largest asset management company in the country, managing assets worth Rs 2.33 lakh crore. This is the largest FDI in India’s financial services industry from Japan.