“We are actively buying are pharma because that is the next stage of the rally that has not performed so well after a stellar run. The only sector we are underweight is banks at this point of time.â€
Vijay Shekhar Sharma is getting a significant amount of new stock options in One97 Communications, a move that would increase his stake in the parent company by 2-3% ahead of the $2.2-billion Paytm IPO.
The Essel group Direct-to-Home service provider had week sought an extension citing time required for any change in the CEO or the board of directors of the company, as it needs the approval of the Ministry of Information and Broadcasting.
The Reserve Bank of India is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity, according to traders and economists, including Madhavi Arora of Emkay Global Financial Services Ltd. The monetary authority is also signaling a taper to its outright bond purchases, or even do away with them totally, from next quarter, some of them said.
Reliance Jio’s decent rural show was driven by strong rural consumer appetite for its cheaper offers on its 4G feature phone, JioPhone, that its older rivals couldn’t immediately match, said analysts.
Tejas Networks said it has bagged an optical network expansion deal from Bharti Airtel, propelling its shares to hit the 5% upper circuit to close at ₹414.80 on the BSE on Thursday.
BNP Paribas Arbitrage Fund today sold 475,000 shares of Home First Finance at Rs. 575.2 apiece through a bulk deal on the National Stock Exchange.
As of June this year, the value of FII investment was only $592 billion, which means that as the market rallied frenetically, their holding value jumped by $38 billion even though their net incremental investment was almost nil between this period.
The company plans to strengthen its presence in Bangalore and enter the Hyderabad market with an initial investment of Rs 1500 crore. These two markets will contribute 35 per cent, while Chennai will contribute 65 per cent of its total revenue.
Upon delisting of its ADS program, the company will concentrate all trading of its equity shares on BSE Ltd and the National Stock Exchange of India Ltd in India (NSE), the filing said.
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