Today we analyze the Grasim - Aditya Birla Nuvo Merger. There's a piece in there that we like, but the important lesson here is: They will confuse the daylights out of you, these corporates. The Scene Grasim is a listed company. It makes Viscose Staple Fiber (VSF), some chemicals and some textiles. It's claim to fame of course is that it owns 60% of Ultratech Cement. And then it owns some of the other Birla businesses. AB Nuvo is also listed. It also had does textiles, Rayon, Insulators and other stuff. It owns the insurance and mutual fund arms . . .