Market roundup: Dow –0.17% to 13511. S&P +0.02% to 1472. Gold -0.20% to $1679.70. London –0.22% . Germany +0.20%. France +0.30%. Nifty -0.90%.
Last month, DLF [stockquote]DLF[/stockquote] announced a deal to sell its stake in luxury hotel group Aman Resorts. Last year, it sold another hotel firm in Kolkata and also a large land parcel in Mumbai. And now in order to cut back on its debt, DLF is set to divest its wind energy business to Bharat Light and Power. (ET)
IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry of conglomerates into banking. It’s a good idea to learn from the mistakes made by the west and not rush into giving away banking licenses. (MINT)
Production at U.S. factories climbed more than forecast in December and the cost of living was little changed, showing the economy gained momentum entering 2013 while inflation remained at bay. The 0.8% advance in Manufacturing output and unchanged consumer-price index were not enough to boost the markets after the gloomy growth projections made by World Bank on Tuesday. (Bloomberg)
Accrding to SEBI guidelines all listed firms (outside government control) need to have a minimum public shareholding of 25%, while state-controlled ones need to have at least 10% stake held by public. In order to achieve this, SEBI may soon enable preferential allotments and qualified institutional placements (QIPs) as legitimate routes in the list of alternatives. (MINT)
