With shadow handles, Congress joins tweet bout

With shadow handles, Congress joins tweet bout

With Modi govt on its 100-day celebration drive, Cong has chalked out a counter blitz.
BJP playing dangerous politics: Omar

BJP playing dangerous politics: Omar

Omar Abdullah accuses BJP of dividing Jammu and Kashmir on religious lines

Quick view : Sensex ends flat at 16,880.5, eyes on inflation data

Jun 14 2012, 03:06 IST
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SummaryThe Sensex ended with a mere 17.71-point gain at 16,880.51 on Wednesday, a day before key inflation data that could help determine whether the central bank will cut interest rates and further spur a rally in domestic indices.

Sensex ends flat at 16,880.5, eyes on inflation data

The Sensex ended with a mere 17.71-point gain at 16,880.51 on Wednesday, a day before key inflation data that could help determine whether the central bank will cut interest rates and further spur a rally in domestic indices. The Sensex ended with a mere 18-point gain at 16,880.51 on Wednesday, a day before key inflation data that could help determine whether the central bank will cut interest rates and further spur a rally in domestic indices. Capital goods shares such as L&T (2.6%) and FMCG scrips, including HUL (3.03%), firmed up sharply on good buying while auto stocks, including Maruti and Tata Motors, fell 2-3% on reports government might impose additional tax on diesel vehicles.

Stay underweight on India: recommends Goldman

Goldman Sachs recommends staying "underweight" in Indian equities on a three-month horizon as equities may slide further on the back of "a sluggish domestic and global growth outlook." However, it adds "the trough in Nifty is behind us." Goldman recommends staying "market weight" on 12-month horizon, says one-year target for the Nifty at 5,600 is underpinned by 12.7 times multiple on fiscal 2014 EPS of 438 rupees/share. "Equities may start to price a recovery in FY14 as well as a better external backdrop," Goldman says. Goldman favours Indian defensive and domestic demand-driven sectors and says to "underweight" global growth and investment-cycle sectors such as banks and commodities.

StanC-backed Powerica puts IPO plan on hold

Powerica, an Indian diesel generator maker backed by Standard Chartered’s private equity unit, shelved plans to raise $117 million in an initial share sale, said sources. Banks hired to arrange the IPO — Citigroup, JM Financial, IDFC Capital and Kotak Mahindra Capital — will instead try to find private-equity investors for the company, sources said. IPOs in India have slumped to R1300 crore this year, less than half of what first-time sales raised in the same period in 2011, according to data compiled by Bloomberg. Investors have steered clear of new equity as India’s economic growth eased to the slowest in almost a decade, while Europe’s debt crisis sapped confidence worldwide.

Subex announces new FCCBs worth $131.1 m

Subex, a provider of business support systems for communications service providers, has announced the launch of new 5.7% FCCBs worth $131.1 million due July 2017, in relation to the outstanding 2% FCCBs worth $180 million due July 9, 2012. On Wednesday, Subex shares

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