Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL) and Khurshed Yazdi Daruvala, promoter-shareholders of Sterling and Wilson Solar, cumulatively own 69.36 per cent of the company, with the public owning the rest.
State Bank of India (SBI) is expected to be the lead banker in the proposed syndication as it has already issued a bank guarantee required for the bidding.
The government announced Friday that the group will take over state-owned Air India through Talace Ltd, a wholly owned subsidiary. Talace will eventually house the two Tata carriers, Vistara and AirAsia India, said the people cited above.
Tata Consultancy Services (TCS) will leverage its expertise in working with many global airlines, such as Singapore Airlines and British Airways, to bid for digitisation projects of Air India from its parent Tata Sons, COO N Ganapathy Subramaniam says.
HFCL, Delta Corp, Saregama, Ramkrishna Forgings, Tata Metaliks, Tinplate Company and Krsnna Diagnostic are among the companies that will announce their March quarter results today.
Companies including Indian Railways Finance Corporation, State Bank of India, Punjab National Bank and IndusInd Bank are likely to raise about Rs 15,000 crore in one or two weeks, market sources told ET.
Analysts ET spoke with said the Tatas would probably not want to kill the competition by flooding the market with capacity or slashing ticket prices.
Even though IT is highly valued, this segment is attracting increasing flows since earnings visibility is high in the segment while banking is struggling with poor credit growth and rising asset quality concerns, he added.
The major takeaway from the RBI governor’s address was the clear communication on the RBI’s course of action towards normalisation, and assurance that the RBI would continue with the accommodative till the economy shows a stable recovery path.
Monday is likely to see the levels of 17,950 and 18,090 acting as immediate resistance points. The supports come in at 17850 and 17790 levels. The Relative Strength Index (RSI) on the daily chart stands at 65.74; it remains neutral and does not show any deviation against the price. The daily MACD is bearish and remains above the signal line.
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