Himank's Feed
Apr 15, 2014

Domestic fund managers start to bet on own economy – Reuters poll

MUMBAI (Reuters) – India-based fund managers are growing more confident in the domestic economy and plan to raise allocations to auto makers and private sector lenders, betting that no change to interest rates will underpin an economic recovery, a Reuters poll showed.

The expected allocations for April-June follow the lead of foreign investors who have already been investing in India-focused shares, such as Tata Motors Ltd, since the start of the year. That has sparked a rally in the broader Nifty which climbed to a record high last week and is up 7.5 percent this year.

Apr 15, 2014

India’s domestic fund managers start to bet on own economy

MUMBAI, April 15 (Reuters) – India-based fund managers are
growing more confident in the domestic economy and plan to raise
allocations to auto makers and private sector lenders, betting
that no change to interest rates will underpin an economic
recovery, a Reuters poll showed.

The expected allocations for April-June follow the lead of
foreign investors who have already been investing in
India-focused shares, such as Tata Motors Ltd, since
the start of the year. That has sparked a rally in the broader
NSE index which climbed to a record high last week and
is up 7.5 percent this year.

Apr 9, 2014

India regulator examines Sun, Ranbaxy merger trading: source

MUMBAI (Reuters) – India’s market regulator will ask Ranbaxy Laboratories and Sun Pharmaceutical Industries for more information about their planned $3.2 billion merger and seek trading data from stock exchanges after shares in Ranbaxy surged in the run-up to the deal, a senior source at the regulator said on Wednesday.

Ranbaxy shares jumped 24 percent while trading volume tripled in the three sessions ahead of Monday’s announcement that Sun Pharma would buy it in what would be the biggest drug sector deal in the Asia-Pacific region this year.

Apr 9, 2014

Brokers’ association to ask regulator to investigate Ranbaxy trades

MUMBAI (Reuters) – The president of a brokerage association plans to formally ask the Securities and Exchange Board of India (SEBI) to investigate trading in drugmaker Ranbaxy Laboratories Ltd’s (RANB.NS: Quote, Profile, Research) shares in the days leading up to the announcement that it will be acquired by rival Sun Pharmaceutical Industries Ltd (SUN.NS: Quote, Profile, Research).

Ranbaxy shares surged 24 percent while trading volumes tripled in the three trading sessions before Sun Pharma said it had agreed to buy Ranbaxy for $3.2 billion.

Apr 9, 2014

Indian brokers association to ask regulator to investigate Ranbaxy trades

MUMBAI (Reuters) – The president of an Indian brokerage association plans to formally ask the domestic market regulator to investigate trading in drugmaker Ranbaxy Laboratories Ltd’s shares in the days leading up to the announcement that it will be acquired by rival Sun Pharmaceutical Industries Ltd.

Ranbaxy shares surged 24 percent while trading volumes tripled in the three trading sessions before Sun Pharma said it had agreed to buy Ranbaxy for $3.2 billion.

Mar 31, 2014

In battling Maruti Suzuki, fund managers find voice

MUMBAI (Reuters) – In forcing automaker Maruti Suzuki India Ltd (MRTI.NS: Quote, Profile, Research) to backtrack on a controversial production deal with its Japanese parent, a group of Indian fund managers scored a rare win that heralds increased activism for an Indian fund industry long seen as timid.

Across emerging markets, shareholder activism tends to be rare, with unhappy investors typically expressing discontent by dumping their shares. In the case of Maruti, that would have meant ditching a company that sells half the passenger cars in India and is a staple of institutional portfolios.

Mar 30, 2014

In battling Maruti Suzuki, Indian fund managers find voice

MUMBAI (Reuters) – In forcing automaker Maruti Suzuki India Ltd (MRTI.NS: Quote, Profile, Research) to backtrack on a controversial production deal with its Japanese parent, a group of Indian fund managers scored a rare win that heralds increased activism for an Indian fund industry long seen as timid.

Across emerging markets, shareholder activism tends to be rare, with unhappy investors typically expressing discontent by dumping their shares. In the case of Maruti, that would have meant ditching a company that sells half the passenger cars in India and is a staple of institutional portfolios.

Mar 15, 2014

India’s Maruti Sukuzi to seek minority shareholder nod for plant

MUMBAI (Reuters) – Maruti Suzuki India (MRTI.NS: Quote, Profile, Research, Stock Buzz) said on Saturday it will seek minority shareholder approval for a plan to outsource production at a new factory to its largest shareholder, Suzuki Motor (7269.T: Quote, Profile, Research, Stock Buzz), after its leading investors opposed the move.

Suzuki Motor Corp, which owns 56 percent of Maruti, in January had announced plans to invest $488 million in a new plant in Gujarat state in northern India and then sell cars produced at the plant to Maruti, shelving an earlier plan that would have seen Maruti set up the factory itself.

Mar 15, 2014

Maruti Sukuzi to seek minority shareholder nod for plant

MUMBAI (Reuters) – Maruti Suzuki India (MRTI.NS: Quote, Profile, Research) said on Saturday it will seek minority shareholder approval for a plan to outsource production at a new factory to its largest shareholder, Suzuki Motor (7269.T: Quote, Profile, Research), after its leading investors opposed the move.

Suzuki Motor Corp, which owns 56 percent of Maruti, in January had announced plans to invest $488 million in a new plant in Gujarat and then sell cars produced at the plant to Maruti, shelving an earlier plan that would have seen Maruti set up the factory itself.

Mar 14, 2014

Government aims to sell stakes in companies via up to $490 million ETF

MUMBAI/NEW DELHI (Reuters) – The government is seeking to raise around $500 million by selling partial stakes in 10 state-owned companies via an exchange traded fund that will be operated by Goldman Sachs’ (GS.N: Quote, Profile, Research) asset management unit.

The Central Public Sector Enterprises ETF will start accepting subscriptions starting on Tuesday with an aim to raise as much as 30 billion rupees by March 21.