21 Jun 2010 |
21 Jun 2010 |
Derivative calls: Tata Power, Ambuja Cement, Apollo Tyres
Technical calls: SKF India, IDFC
Jhunjhunwala seen buying VIP Inds shares
High net worth investor Rakesh Jhunjhunwala is mopping up shares of VIP Industries. Jhunjhunwala, who is also one of the major shareholders of VIP Inds, bought a sizeable quantity of the company’s shares on Monday. VIP shares jumped 8.2% to close at Rs 297.50 after scaling a new high of Rs 312.4 during intra-day trading on the BSE. The counter attracted significantly higher volumes of 22.8 lakh shares, compared to two-week average of 3.9 lakh shares. The acquisition of fresh shares led to an increase in Jhunjhunwala’s stake from 4.5% as on March 31, ’10 to 5.8% of the company’s equity.
Top i-bankers in demand despite weak market
The market has been largely tepid, of late. And fund-raising deals have slowed, but that has hardly dented demand for investment bankers. In the past many months, many top deal-makers have changed jobs. The latest buzz is that Sunil Sanghai of Goldman Sachs has quit. He is believed to be joining HSBC as managing director, global banking-corporate and investment banking. Tarun Kataria, who has been appointed by Religare Capital Markets as CEO, was the head of HSBC’s global banking and markets. Goldman Sachs’s India head Brooks Entwistle had roped in Sanghai when he was building the US-based financial services player’s Mumbai team.
Carrefour may get hold of Pantaloon’s ‘Bazaar’
Speculation that Pantaloon Retail is close to selling a large stake to French retailer Carrefour refuses to die. If market grapevine is to be believed, Carrefour will bring Pantaloon’s retail segments like ‘Big Bazaar’ and ‘Food Bazaar’ under its fold. While officials at Pantaloon denied any such development, analysts tracking the company are not discounting a “surprise announcement” over the next few weeks. Shares of Pantaloon ended marginally higher at Rs 415.20 on the BSE on Monday.
(Contributed by Vijay Gurav, Reena Zachariah & Shailesh Menon)
High net worth investor Rakesh Jhunjhunwala is mopping up shares of VIP Industries. Jhunjhunwala, who is also one of the major shareholders of VIP Inds, bought a sizeable quantity of the company’s shares on Monday. VIP shares jumped 8.2% to close at Rs 297.50 after scaling a new high of Rs 312.4 during intra-day trading on the BSE. The counter attracted significantly higher volumes of 22.8 lakh shares, compared to two-week average of 3.9 lakh shares. The acquisition of fresh shares led to an increase in Jhunjhunwala’s stake from 4.5% as on March 31, ’10 to 5.8% of the company’s equity.
Top i-bankers in demand despite weak market
The market has been largely tepid, of late. And fund-raising deals have slowed, but that has hardly dented demand for investment bankers. In the past many months, many top deal-makers have changed jobs. The latest buzz is that Sunil Sanghai of Goldman Sachs has quit. He is believed to be joining HSBC as managing director, global banking-corporate and investment banking. Tarun Kataria, who has been appointed by Religare Capital Markets as CEO, was the head of HSBC’s global banking and markets. Goldman Sachs’s India head Brooks Entwistle had roped in Sanghai when he was building the US-based financial services player’s Mumbai team.
Carrefour may get hold of Pantaloon’s ‘Bazaar’
Speculation that Pantaloon Retail is close to selling a large stake to French retailer Carrefour refuses to die. If market grapevine is to be believed, Carrefour will bring Pantaloon’s retail segments like ‘Big Bazaar’ and ‘Food Bazaar’ under its fold. While officials at Pantaloon denied any such development, analysts tracking the company are not discounting a “surprise announcement” over the next few weeks. Shares of Pantaloon ended marginally higher at Rs 415.20 on the BSE on Monday.
(Contributed by Vijay Gurav, Reena Zachariah & Shailesh Menon)
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