Goldman Sachs lowers Cairn India to ‘neutral’
Goldman Sachs on Monday downgraded Cairn India to ‘neutral’ from ‘buy’, citing expectations of flat-to-declining earnings growth, based on its medium-term outlook of gradual moderation in oil prices. The investment bank also removed the stock from its Asia-Pacific buy list.
Religare MF unveils open-ended debt plan
Religare MF on Monday announced the launch of Religare Bank Debt Fund, an open-ended debt scheme. The fund seeks to generate optimal returns by investing in a portfolio of debt and money market instruments issued primarily by banks. The NFO opened for subscription on Monday and closes on December 24. The scheme will invest 80-100% of assets in debt and money market instruments issued by banks, while up to 20% of the assets will be invested in securities issued by Public Financial Institutions, T-bills, CBLO, G-sec, units of debt and liquid mutual fund schemes.
L&T MD offloads 2,000 co shares for R33.48 lakh
Larsen and Toubro’s managing director & CEO K Venkataramanan has sold 2,000 shares of the infrastructure major for about R33.48 lakh. The company, in a BSE filing, said Venkataramanan sold 2,000 shares of the company on November 30 for about R33.48 lakh, thereby reducing his stake by a notch to 0.094% or 5,80,419 shares of R2 each. Before the share sale, he held 5,82,419 shares in L&T or a 0.095% stake.
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