Indian markets - The bull is back ?
Yesterday's buying frenzy is likely to continue today also especially in the midcap and smallcap space. Indices will gap up during the initial trades only to cool-off and trade in a band. The action will be shifted to the speculative counters. We do not expect any negative fireworks today also. But at the same time gains will be muted.
This upmove is an oppurtunity for investors and traders to trim their positions. Underlying stregth of the global economy is very weak except for few of the emerging economies like India, China and Brazil
Fortis Healthcare Ltd. is planning to list its shares on Singapore stock exchange and the shares of its pathology arm, Super Religare Laboratories, in India, accoerding to the chairman of the company Malvinder Singh.
Reliance Industries Ltd., through its investment arm,has picked up an additional 0.68% in EIH Ltd on August 31 through a single offmarket deal, pushing it close to the open offer threshold.
State-owned National Aluminium Company Ltd. today said it was considering selling stake in its $3.9-billion (over Rs 18,000 crore) aluminium project in Indonesia in lieu of acquiring equity in coal mines in the island country. - BS
State-owned Indian Bank plans to sell assets worth Rs 900 crore to an asset reconstruction company (ARC).
AstraZeneca Laboratories AB, the London-headquartered pharma giant, is set to ink a deal with Aurobindo Pharma Ltd. for supply of generic finasteride, which is used in the treatment of prostate issues and male pattern baldness.
Tata Consultancy Services Ltd. bought Diligenta, a Unisys insurance unit and along with it picked up a £250m deal
Clutch Auto : Stock in top gear