ICICI Bank in talks to sell 5% stake in ICICI Pru Life
ICICI Bank is in talks to sell part of its stake in an insurance unit ( ICICI Prudential) to Temasek Holdings and Carmignac Gestion for about US$ 300 million by March end. Earlier, the management had said that they will be looking for opportunities to divest stake in insurance business. Based on the proposed deal, the ICICI Prudential Life valuation comes around Rs37,200 crore ($6 bn) which is ~50% premium to consensus valuations.
Bharti Airtel, TTML to join hands for sharing infrastructure
Bharti Airtel and Tata Teleservices are likley to join hands for sharing infrastructure. We believe that if the same holds true, it would be positive for Bharti as well as Tata Tele, as for Bharti it would enable to strengthen its optic fiber network, data spectrum capacity in the 800 mhz band; while for Tata, enable monetization of its unused capacity and network.
Ajanta Pharma jumps on fixing record date
Ajanta Pharma surged over 6%, touching to Rs3214, after the company fixed March 23, 2015 as record date for the purpose of sub-division of equity shares from face-value of Rs5 each to Rs2 each. Ajanta Pharma has announced that the Company has fixed Record Date as March 23, 2015 for the purpose of sub-division of equity shares from face-value of Rs5 each to face-value of Rs2 each.
ITC surges on reports of price hike
Shares of ITC rose over 2%, touching to Rs347.3, on reports that the company is likely to hike cigarette prices by 15% on average. Finance Minister Arun Jaitley presented Union Budget 2015-16 in the parliament on February 28, 2015. In the budget, Jaitley announced that to promote public health, excise duty on cigarettes is being increased by 25% for cigarettes of length not exceeding 65 mm and by 15% for cigarettes of other lengths.
Jindal Stainless soars as govt plans to impose anti-dumping duty
Shares of Jindal Stainless Ltd (JSL) surged over 17%, touching to Rs47.30, on reports that the government is planning to impose anti-dumping duty on hot rolled flat stainless steel. The Directorate General for Anti-Dumping & Allied Duties has recommended levy of anti-dumping duty on hot rolled flat stainless steel imported from China, Malaysia and Korea. It has suggested duty of $309 a tonne on imports from China, $316 a tonne from Malaysia and $180 a tonne from Korea.
Intraday Stock Tips Share Market Tips Stock Advisory Company
0 Comments