Market players have criticised the move to include German auto ancillary major Bosch in the benchmark Nifty. Not only is the stock expensive in absolute terms - its last price was over Rs 22,500 a piece - it also trades at rich valuations of 80 times its trailing 12-month earnings. Brokers say illiquidity in the counter could also become an issue, as passive funds will have to buy the stock in large quantities after it gets included in the Nifty index later this month.
No exit woes for Jacob Ballas
Private equity firm Jacob Ballas, whose investee firm PNC Infratech's initial public offering is set to open next week, is not done with the primary market just yet. The firm is said to be lining up at least three more companies that will hit the market in the next 15 months. An official declined to name the companies. However, early groundwork on getting the companies to the market is already said to be underway.
Capital exemption
Foreign portfolio investors who file returns from Delhi seem to be luckier than others. A tax expert said because most file their returns from Mumbai, all minimum alternate tax notices have originated from here. But the few who had decided to base themselves out of Delhi have escaped the net altogether. Location can have its benefits.
