What To Watch. Phoenix Lamps: Open offer from Monday

Shares of Suprajit Engineering and Phoenix Lamps will remain in focus, as the open offer from the former to the shareholders of the latter will begin on Monday. Suprajit on Friday (as per the May 6 agreement at ₹89 a share) acquired 51 per cent stake in Phoenix from Argon India, Mauritius and Argon South Asia, Mauritius. Through the offer, it plans to acquire 72.85 lakh shares (or 26 per cent) of Phoenix Lamps at ₹100 a share.