Friday’s close: Dow +1.32% to 13007. S&P +1.33%. Nasdaq +1.38%. Crude +1.05% to $88.3. Gold +1.41% to $1752.65. London +0.49%. Germany +0.89%. France +0.87%.
What is an Indian politician’s pledge worth? Chidambaram: The government is “optimistic” it will rein in the shortfall for the year through March 31 to 5.3% of GDP from the previous year’s 5.8%, and has no plan “at the moment” to increase its record borrowing program. (Bloomberg)
M&M is in dead heat to buy Aston Marti. Go James Bond, desi style? (WSJ) [stockquote]M&M[/stockquote]
Walmart fires its Indian team for bribing. Who would’ve thunk?! (ET)
SEBI is really, really, really serious about enforcing the June 2013 deadline for promoters to reduce their holding to 75%. (ET)
Hindustan Copper’s 3.7 crore shares got over-subscribed by 18 lakh shares. The discovered price of the OFS is Rs 157 per share against offer price of Rs 155 per share. (ET) “Even at Rs 155, I do not think it offers too much of value.” (ET) [stockquote]HINDCOPPER[/stockquote]
Will next month see the Bharti Infratel IPO? If successful, this would be first large public issue after Coal India raised Rs 15,200 crore in October 2010. It will also make Airtel a fully outsourced company: operations handled by IBM and infrastructure managed by Infratel. (ET) [stockquote]BHARTIARTL[/stockquote]