Adani Group on Friday launched its Rs 31,000-crore open offer to acquire 26 per cent additional stake from the public shareholders of Swiss firm Holcim's two Indian listed entities ACC Ltd and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for $10.5 billion. Markets regulator Sebi granted approval for the open offer last week.
Head of Deutsche Equities Keshav Sanghi states that medium-term foreign investors are still positive on India.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
Notwithstanding the stock market in 2014 logging one of the worst New Year starts since 1996, the year heralds the beginning of a bull cycle in India and the Sensex may scale the 24,000 peak by December, Deutsche Equities said.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Further outperformance hinges on pickup in industrial activity, buying by local investors.
The IOC share sale is the fourth disinvestment this fiscal but the biggest in 2015-16 so far.
Infosys co-founders N R Narayana Murthy and Nandan Nilekani along with their family members on Monday sold shares worth Rs 6,484 crore in the country's second largest software services firm.
The government is selling over 41.22 crore shares or 5 per cent stake in NTPC.
The company will finalise the final pricing for allotment of shares later.
While analysts predicted the Sensex to cross 30,000 in 2016, the index currently stands 12% lower at 26,400.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
Both Sensex and the rupee posted slight gains on Monday but Brexit concerns lingered.
Floor price of SAIL to be set at Rs 83 a share.
They have put in $14 billion so far in 2014 but this could get slower if the US Fed raises rates; however, there are expectations on compensatory flows.
Buoyed by the success of secondary market, IPO market set to see high action
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Analysts agree China, Greece and US Fed developments need careful monitoring but India should gain, over time, from relative rise of the dollar and fall in commodity prices.
Analysts say the company remains on a firm footing, stake sale by the founders will not impact fundamentals.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
Global markets could correct 5-10 per cent. If that happens, Indian markets will correct about 10 per cent
The derivatives expiry on Thursday is also expected to add to the volatility.
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