Stocks to watch: HDFC,Reliance Industries,Pantaloon Retail,TCS,Reliance Communications
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B. Karthick
Aug 18, 2009, 12:27:18 AM8/18/09
to Kences1
Crude oil prices were volatile in Asian trade on concerns of economic
recovery. New York's main futures contract, light sweet crude for
delivery in September, was at $67.20 per barrel and Brent North Sea
crude for October delivery was at $70.72.
The Indian rupee was lower at 48.92/94 per dollar against its previous
close of 48.95 on fears of capital outflowsa from the stock markets.
Reliance Industries has initiated talks with global energy majors to
divest its shareholding in at least half-a-dozen overseas exploration
blocks to reduce risk. RIL owns majority stakes, from 70% to 100%, in
blocks in countries including Columbia, Oman, Australia and Yemen
through its wholly-owned subsidiary Reliance Exploration and
Production DMCC.
Bharti Airtel has received bids from more than a dozen overseas banks
keen to fund its merger with top South African mobile company MTN,
raising hopes that the nearly $23-billion biggest cross-border M&A
deal ever by an Indian company was inching towards a successful
outcome.
Pantaloon Retail, the listed entity of Kishore Biyani-led Future
Group, is floating a foreign direct investment (FDI)-compliant special
purpose vehicle (SPV) to offload its non-core assets to overseas
investors.
Housing finance major HDFC on Monday raised Rs 4,300 crore through a
qualified institutional placement issue of non-convertible debentures
(NCD) with attached warrants that entitle the holder to buy HDFC
shares at around Rs 3,000 per share within three years.
The Maharashtra government and India’s largest IT firm by revenues,
Tata Consultancy Services are close to finalizing a joint venture for
an ambitious project that will provide citizens online access to
government services. TCS will hold a majority 74% stake in the venture
to be called MahaOnline.
Kuwaiti telecom firm Zain is said to be reviewing a possible sale of
its African operations, Celtel, valued at $10 billion. The Kuwait
Investment Authority (KIA) which is a majority shareholder in Zain
with 24.61 per cent shares, is in talks with Anil Ambani-promoted
Reliance Communications.
B.Karthick
Research Analyst
recovery. New York's main futures contract, light sweet crude for
delivery in September, was at $67.20 per barrel and Brent North Sea
crude for October delivery was at $70.72.
The Indian rupee was lower at 48.92/94 per dollar against its previous
close of 48.95 on fears of capital outflowsa from the stock markets.
Reliance Industries has initiated talks with global energy majors to
divest its shareholding in at least half-a-dozen overseas exploration
blocks to reduce risk. RIL owns majority stakes, from 70% to 100%, in
blocks in countries including Columbia, Oman, Australia and Yemen
through its wholly-owned subsidiary Reliance Exploration and
Production DMCC.
Bharti Airtel has received bids from more than a dozen overseas banks
keen to fund its merger with top South African mobile company MTN,
raising hopes that the nearly $23-billion biggest cross-border M&A
deal ever by an Indian company was inching towards a successful
outcome.
Pantaloon Retail, the listed entity of Kishore Biyani-led Future
Group, is floating a foreign direct investment (FDI)-compliant special
purpose vehicle (SPV) to offload its non-core assets to overseas
investors.
Housing finance major HDFC on Monday raised Rs 4,300 crore through a
qualified institutional placement issue of non-convertible debentures
(NCD) with attached warrants that entitle the holder to buy HDFC
shares at around Rs 3,000 per share within three years.
The Maharashtra government and India’s largest IT firm by revenues,
Tata Consultancy Services are close to finalizing a joint venture for
an ambitious project that will provide citizens online access to
government services. TCS will hold a majority 74% stake in the venture
to be called MahaOnline.
Kuwaiti telecom firm Zain is said to be reviewing a possible sale of
its African operations, Celtel, valued at $10 billion. The Kuwait
Investment Authority (KIA) which is a majority shareholder in Zain
with 24.61 per cent shares, is in talks with Anil Ambani-promoted
Reliance Communications.
B.Karthick
Research Analyst
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