Market Roundup: Dow +0.33% to 13825. S&P flat. Gold -0.04% to $1667. London+1.09%. Germany +0.53%. France +0.70%.
BSE Ltd will float its initial public offer (IPO) in the first quarter of fiscal 2014 through the offer-for-sale (OFS) route. “If the company at is valued at Rs.4,000 crore, the exchange will dilute only 10% to raise Rs.400 crore through the IPO, but if the valuation is lower, 25% stake of the existing shareholders could be sold through the IPO. (MINT)
SKS Microfinance Ltd, [stockquote]SKSMICRO[/stockquote] India’s only listed micro lender, ended a seven-quarter loss-making streak on Thursday by posting a small profit for the three months ended 31 December, helped by higher loan demand in markets outside of Andhra Pradesh and significant cost cuts. (Businessline)
Jaguar Land Rover Ltd (JLR) negative announcements regarding lower profitability, increased capital expenditure and the consequent negative free cash flows led to a dramatic fall of TATA MOTORS Ltd. [stockquote]TATAMOTORS[/stockquote] , [stockquote]TATAMTRDVR[/stockquote]. JLR accounts for around 90% of net profit and 75% of net sales. (MINT)
Natural decline in output from some of the natural gas producing fields coupled with continued fall in output from the country’s largest fields saw the domestic production fall for the 25th straight month in December. To meet the growing petroleum product demand and no significant increase in indigenous output, the domestic refiners were compelled to import more crude oil in December year-on-year. [stockquote]RELIANCE[/stockquote],[stockquote]GAIL[/stockquote],[stockquote]PETRONET[/stockquote]. (Businessline)
An unlikely partnership between profitable FMCG companies like Hindustan Unilevert[stockquote]HINDUNILVR[/stockquote] and Dabur [stockquote]DABUR[/stockquote] and penniless rag-pickers is now offering a hint of a fix to India’s 12,000 tonnes a day plastic junk pile-up. A new way of CSR? (ET)
Happy weekend!!
