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Vista Vyapaar Buys 69.2% In Mathew Easow Research Securities

05 January, 2010

Vista Vyapaar Pvt Ltd, an investment company in India, has acquired 69.2% stake in Kolkata-based Mathew Easow Research Securities Ltd for $0.85 million (Rs 3.94 crore). Mathew Easow offers technical analysis to companies, stock brokers, high net worth individuals and retail clients. 

The deal happened through an open offer transaction, said the company in its filing to the Bombay Stock Exchange. In the process, Vista acquired 1.65 million shares representing 55.19% stake for $0.67 million, and another 0.42 million shares (14.01% stake) for $0.17 million. 

Earlier, in an off-market transaction, Vista bought 23,000 shares representing 0.77% share capital of Mathew Easow in July 2009, according to a previous filing of Mathew Easow in the stock exchange. 

Mathew Easow Research Securities is a company started by late Mathew Easow, a stock market commentator. Media reports suggest that market regulator SEBI had imposed a penalty of Rs 20 lakh on Easow in 2006 for undertaking an opposite trading position to what he recommended to the investors in the stocks of Kalpana Industries, CESC Ltd, Ahlcon Parenterals India Ltd and Albert David Ltd. 

The company offers services including technical and fundamental advice on moving averages and trading plans for pivotals and mid caps, and fundamental analysis of select scrips. It also provides portfolio restructuring services.  

Net sale of the company was Rs 17.73 crore in March 2009, as compared with Rs 10.18 crore a year ago. Net profit was Rs 0.09 crore against Rs 0.06 crore.  

Microsec Capital Ltd, a Kolkata-based integrated business and financial services group, has acted as the manager in this transaction. 


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Vista Vyapaar Buys 69.2% In Mathew Easow Research Securities

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