What will the Centre and the Tamil Nadu government do to answer the queries and fears of investors who will want to be doubly sure they would not be harassed at a later date, as has been happening to Sterlite, should be interesting to watch, says N Sathiya Moorthy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Pune-based Rahul Bajaj group, thanks to an amazing stock market ride by Bajaj Finance and Bajaj Finserv, has grabbed third spot, pushing the Aditya Birla group down to fourth position.
Major corporates are staring at an uncertain future after investing substantially on their projects
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
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Countering Grupo Mexico's bid to acquire US-based bankrupt miner Asarco, Vedanta Resources group firm Sterlite Industries today said it has increased the cash component of its offer by about $500 million to nearly $2.1 billion.
Announcing a fun workshop with yogacharya Shameem Akthar, who has been trained with the Sivananda Yoga Vedanta Center, on yoga games, as played in ancient India.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
Sterlite Industries, the flagship firm of London-listed Vedanta, may get the support of rival bidder Harbinger Capital Partners in its takeover plan for the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the bankruptcy court that its plan to restructure Asarco should not be considered.
Court says no evidence of cartel in low bids for coal blocks.
Asarco's unsecured creditors will support Sterlite Industries, the flagship firm of London-listed Vedanta group, in the bidding war for the bankrupt US copper mining firm.
Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group's Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.
The three-judge arbitration panel set up to resolve the controversy over the sale of the government's residual 49 per cent stake in Sterlite-controlled Bharat Aluminium Company Ltd has decided to meet in August, raising hopes of a resolution to the five-year-old dispute.
Announcing yoga dance workshop with yogacharya Shameem Akthar, who has been trained with the Sivananda Yoga Vedanta Center.
India Inc seems to have regained its appetite for mergers and acquisitions. In the second-largest acquisition in India's iron ore industry, Sesa Goa, a subsidiary of London-listed Vedanta Resources, on Thursday acquired Goa-based Dempo group's mining and maritime businesses for Rs 1,750 crore in an all-cash deal.
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The takeover battle for United States copper miner Asarco continues to rage, as its estranged parent Grupo Mexico has offered $1.3 billion to counter Sterlite Industries' offer for the second time.
The Lifetime Achievement Award was presented to PRS Oberoi, chairman and chief executive of the Oberoi group. The 10th edition of the E&Y awards in India was decided by a six-member jury headed by KV Kamath, managing director and chief executive of ICICI Bank.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
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The 30-share Sensex ended up 204 points at 27,215 and the 50-share Nifty ended up 59 points at 8,238.
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
'Use your emotion well. My own Vedanta guru would say, "Anger should be like a handkerchief. Take it out of your pocket, use it, and then return it to your pocket".'
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
No new capacity addition is planned for 2018 and capital expenditure plans are on hold
Vedanta Resources chairman Anil Agarwal on Thursday said he is ready with Rs 8,000 crore (Rs 80 billion) for buying the government's residual equity in Balco and Hindustan Zinc, for which he will meet the Finance Minister this month.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
The broader markets were also in top gear, with the BSE midcap index surging by 2.1% at 11,431 and the smallcap index gaining 1.4% at 11,735.
Sensex is under pressure due to concerns in the global market.
The work will finish by end of the year.
Banking and capital goods stocks were out of favour, while oil and auto stocks saw buying interest.
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