Outlook: - Rising crude on Iraqi turmoil is souring the sentiment, INR appreciation is a solace. - Although, globally markets continue to trade with a positive tinge, on premise that FED will continue to keep rates lower for a “prolonged” period. - We believe while crude pressure will persist for some time, on should take the opportunity to build up portfolio, led by financials. News: - SEBI has asked Govt. to hike public holding in all PSUs to a minimum 25% by divesting its stake in listed entities, bringing them at par with private cos. The move paves way for as much as Rs. 600bn PSU pack stake sale over a period of 3-years. - BJAUT IN: Co. has will begin retail sales of its 4-wheeled quadricycle by October this year. - IBREL IN: Co. has bought out a 87,444 sq ft commercial property, paying Rs 15.50bn in Londons up-market area of Mayfair. - JETIN IN: In fresh troubles for - Jet Airways’ alliance with Etihad, fair trade watchdog in Singapore has begun a scrutiny of the deal to probe any possible violation of its competition laws. - GMRI IN: Co. won first leg of arbitration process against Maldives Govt. as the International tribunal in Singapore said that the concession pact was valid & binding and not void for any mistake of law. GMR consortium is seeking $1.4bn in damages. - UNSP IN: As per media reports, Diageo’s open offer for an additional 26% stake in United Spirits has seen 69.9 mn shares tendered, against the required 37.7mn. bit.ly/1lDK2bV
Posted on: Fri, 20 Jun 2014 03:56:59 +0000
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