X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Top stories this week… - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Dec 2, 2000

    Top stories this week…

    ‘Cell’ing it off… Bharti Group has planned to divest around 10 percent equity stake in their holding company Bharti Enterprises to Mauritius based Seejay Cellular and to a clutch of domestic and international financial institutions. This is expected to part finance the buyout of British Telecom’s stake in Bharti Cellular.

    IMD spurts FDI… The foreign exchange reserves of the country swelled by US$ 1.6 billion to US$ 37 billion in the last week of November 2000. This was primarily due to the inflow of India Millennium Deposit raised by State Bank of India. Foreign current assets during this period also rose by US$ 1.6 billion to US$ 34 billion.

    In ‘Quest’ of fragrance… ICI India is venturing into flavors and fragrances business. This is in line with its parent company ICI Plc., which acquired Quest from Unilever. It is in talks with Hindustan Lever, which owns Quest in India, for acquisition. The Quest business is estimated to be around Rs 1 billion (US$ 21 million). However, this has created apprehension about the focus of the company, which has been on a restructuring phase for more than a decade.

    ONGC explores… Oil and Natural Gas Corporation (ONGC) has planned to invest around Rs 20 billion (US$ 425 million) each in the next two years for oil and gas exploration. Besides, the company is also investing US$ 2 billion for enhancing recovery from Bombay High.

    The power dilemma… The Maharashtra government is rethinking on the Phase II of the Enron backed Dabhol power project (DPP). This comes in the wake of widespread criticism of the pricing and the guarantees’ provided to Enron for Phase I of DPP. At the moment, the Maharashtra State Electricity Board (MSEB) pays Rs 4 (US$ 0.1) per unit of power produced to Enron and is obligated by contract to buy 90% of Enron’s power production. Enron’s cost of power is the highest in the grid and this has sent MSEB finances in a tizzy. However, if the government does back out of the deal, it may have to shell out Rs 355 billion (US$ 7.5 billion) as compensation to Enron India. A catch-22 situation in the real sense.

    DotEx from NSE… NSE.IT, the 100 percent information technology arm of the National Stock Exchange (NSE), launched the world’s first broker plaza named ‘DotEx Plaza’, an Internet based stock trading platform for its members. DotEx International, promoted by NSE.IT and I-flex Solutions, would act as the infrastructure service provider and neutral aggregator to bring together all market participants.

    Raising stakes… Philips NV, the parent company of Philips India, has expressed its intention to acquire the entire outstanding 49 percent equity capital of the Indian subsidiary, through the ongoing open offer. The parent company had earlier expressed its interest to buy 23 percent from the public. If the deal goes through, then the Indian company would become a 100 percent subsidiary.

    DoD on a roll… The Department of Disinvestment (DoD) has proposed a three-pronged strategy to bring down the governments stake in the telecom behemoth Videsh Sanchar Nigam Limited (VSNL) to 26 percent. This includes a strategic sale of 15 percent, a 5 percent offer for sale to employees and the Indian public, and a GDR/ADR offer of 7 percent.

     

     

    Equitymaster requests your view! Post a comment on "Top stories this week…". Click here!

      
     

    More Views on News

    Tejas Networks Ltd. (IPO)

    Jun 14, 2017

    Should you subscribe to the IPO of Tejas Networks Ltd?

    Discover the Secrets of Hidden Smallcaps From These AGMs (The 5 Minute Wrapup)

    May 26, 2017

    Don't be surprised to come across some Super Investors there!

    A Trader's Nightmare. A Business Owner's Delight. (The 5 Minute Wrapup)

    May 19, 2017

    Not all small-cap investors see themselves as traders. Some see themselves as business owners.

    Securities & Intelligence Services Ltd. (IPO)

    Jul 31, 2017

    Should you subscribe to the IPO of Securities & Intelligence Services Ltd?

    Why Super Investors are Underperforming in This Market (The 5 Minute Wrapup)

    Jul 8, 2017

    If Super Investors can wait for the right pitch, so can you.

    More Views on News

    Most Popular

    Demonetisation Barely Made Any Difference to Tax Collections(Vivek Kaul's Diary)

    Aug 7, 2017

    The data tells us quite a different story from the one the government is trying to project.

    Proxy Plays: A Smart Way to Bet on 'Off Limits' Companies(The 5 Minute Wrapup)

    Aug 4, 2017

    The small-cap space is full of small players that are clear proxies to great growth stories and Indian megatrends.

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    7 Financial Gifts For Your Sister This Raksha Bandhan(Outside View)

    Aug 7, 2017

    Raksha Bandhan signifies the brother-sister bond. Here are 7 thoughtful financial gifts for sisters...

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    MARKET STATS