 "Deal time for Anil Ambani group companies")
The Anil Ambani group, which has been announcing a number of deals including the three-way likely merger of Reliance Communications with Aircel and MTS in the past week, is facing a couple of key deal deadlines in the coming weeks.
These include the sale of the cement business at Rs 5,000-6,000 crore where the deadline was December 24. Sources say the announcements of this deal is expected in the next 10 days.
Also, the Rs 22,000-crore tower and Rs 8,000-crore fibre deal deadline is on January 15. These three deals are expected to reduce the group's debt significantly. In the past month, stock prices of the Anil Ambani group companies, except Reliance Capital, have been rising steadily in anticipation of these deals.
Reliance Infrastructure, Reliance Communications and Reliance Power are up 10-20 per cent, while Reliance Capital is down 0.5 per cent.
Joydeep Ghosh
The Securities and Exchange Board of India (Sebi) has agreed to do away with the requirement of 25 per cent of profit transfer every year by stock exchanges towards settlement guarantee fund (SGF). However, this leeway comes with a caveat: Sebi in its board meeting minutes said SGF would need to meet the margin and stress test models. "The margin and stress test models might be reviewed over a period of one year to validate their adequacy. Any shortfall in the SGF requirements should be met by the stock exchange," stated the regulator.
Jayshree P Upadhyay
Hikal, a fine chemicals manufacturer for the pharmaceutical and agrochemical industries, is finding sudden interest from high net worth individuals. The stock has risen from Rs 134 to Rs 173 in the past month, mainly due to the interest shown by an investor whom the markets love to follow. That explains why a lot of other investors are rushing to buy the stock.
Joydeep Ghosh
