Mumbai: The Crisis not over yet, warns the German Chancellor Angela Merkel. According to the German leader Europe is “still in one of the various phases” of this crisis.
Overnight, stock markets in the US retreated as selling in energy shares weighed on the benchmark indices. S&P 500 at 1,402 closed lower by 0.19%.
Asian markets opened on a positive note. Equity markets rose after US home sales data showed strength and China eased reserve requirements for rural banks. Japan’s Nikkei at 10,097 is up 0.11%.
Back home, state owned oil marketing companies-IOCL, BPCL and HPCL are asking the government to regulate petrol prices again. Unable to sell petrol at market prices, the oil marketing firms want fuel be included in the administered pricing mechanism, where they get compensated for the losses.
Super Religare Laboratories, a subsidiary of Fortis Healthcare, is in talks to sell 15-20% stake in the company to private equity firms, reports The Economic Times. The fund infusion is expected to help the company reduce debt.
MMC is expecting to sell 30% more gold in the current fiscal, reports the Business Standard. The company is aiming for a turnover of Rs 650 crore in gold retail sales this year. Last year MMTC had reportedly sold gold worth Rs 490 crore.
UltraTech Cement stock might continue to trade with positive momentum. The company is in talks to buy a cement plant in north-east, reports The Economic Times. According to the report, the deal could be valued at around Rs 700 crore.
Keep an eye on Godrej Properties stock. According to the Business Standard, the promoters of the company are planning to sell 10.6% stake in the company at a price band of Rs 575-620. On Wednesday the stock closed at Rs 640.
Apollo Hospitals stock could also be in limelight. Sutherland Global Services and Genpact are in the race to acquire Apollo Health Street, reports The Times of India. Apollo Health Street is a healthcare BPO. Apollo Hospitals and group companies reportedly hold 54% stake in the firm.
Finally, the Rs 120 crore National Buildings Construction Corporation (NBCC) IPO will open for subscription today. The government owned company plans to sell shares in the price band of Rs 90-106. While credit rating agency CARE has assigned Grade 4 to the IPO, the offer will test the investors’ appetite for the PSU shares.