Unstructured Finance

Metal Index drops

People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai January 24, 2008. REUTERS/Punit Paranjpe/Files

The BSE Metal index fell 1.3 percent on Friday and aluminium maker Hindalco Industries slipped more than 5 percent in intra-day trade, largely tracking a fall in international metal prices.

Base metals fell an average 1.9 percent, with copper reversing the previous session’s gains ahead of U.S. GDP data and next week’s pivotal FOMC meeting.

Metal index stocks which ended the day in the red were Hindalco (down 2.7 pct), SAIL (down 3.8 pct), Tata Steel (down 2.4 pct), and Bhushan Steel (down 2.43 pct).

Do you think it is the right time to invest in metal stocks?

Deals wrap: AIA shines in Hong Kong

An office worker leaves the AIA central building in Hong Kong's financial district September 21,2010.REUTERS/Tyrone Siu AIA Group surged 17 percent in its Hong Kong debut as investors piled into the record offering. The strong start boosted AIA’s market value above the $35.5 billion Prudential had initially offered for AIA in March, vindicating AIG’s decision not to accept the $30.4 billion bid that followed.

While investors flocked to IPOs of AZ Electronic and the Warsaw bourse, a dose of realism soured Enel’s goal to raise $4.2 billion from its green power unit. Enel dropped the bottom of its price range for Enel Green Power to 1.6 euros from 1.8 euros. “There are plenty of IPOs that seem to be working particularly well, and it is all to do with the willingness of the seller to be realistic,” said a source close to the deal.

Just days before bankers are expected to begin an IPO road show, General Motors buffs up its finances with a repayment to U.S. taxpayers and early payments to pension and retiree health plans. Taking a step back, the WSJ asks if GM is really worth $70 billion.

Deals wrap: Cutting the deal in half

A Wall St. sign is seen outside the New York Stock Exchange, September 30, 2008.  REUTERS/Lucas Jackson Wal-Mart may scale back its bid for Massmart and take a 50 percent stake, rather than a full buyout, Massmart said in a statement. Wal-Mart has been under increasing fire from shareholders to revive its ailing U.S. stores, and some analysts have said it should concentrate on fixing its business at home before spending big on expansion. *View article

Private equity firm Blackstone Group reported a rise in quarterly earnings and said the value of its investment funds grew. *View article

With the U.S. car industry in a slow, fragile recovery from a punishing downturn, auto parts makers are reluctant to pull the trigger on deals, delaying a long-predicted wave of consolidation in the sector, write Soyoung Kim and Deepa Seetharaman. *View article

Tech Mahindra drops after results

Employees at a call centre provide service support to international customers, in Bangalore March 17, 2004. REUTERS/Sherwin Crasto/Files

Shares of Tech Mahindra fell sharply on the first day of trade after the company declared a drop in Q2 profits after market hours on Tuesday.

Tech Mahindra said second-quarter net profit fell more than 10 percent as the IT services firm booked a charge related to its shareholding in Mahindra Satyam.

Shares in the company closed 2.1 pct lower at 768 rupees.

Do you think it is the right time to invest in this stock?

Deals wrap: Focus on private equity

A sign is pictured on Wall St. near the New York Stock Exchange in New York November 25, 2008. REUTERS/Lucas Jackson Communications cable maker CommScope said it agreed to be bought out by The Carlyle Group in a $3.9 billion deal. It’s the latest sign of a resurgence of acquisitions by private equity firms, which are under pressure to invest billions of dollars of capital raised in the past few years. *View article *View preview of Blackstone and KKR’s results

Green Mountain’s near-monopoly in single-cup brewing, just 4 years after it bought coffee machine maker Keurig, makes it a compelling target for food or consumer products giants seeking entry to a fast-growth part of the U.S. beverages market, writes Mihir Dalal. *View article

Private equity is testing the regulatory waters with a rare bank takeover, reports Bloomberg. *View article

Idea Cellular down on weak Q2 results

TELECOMS INDIA BHARTI

Shares of Idea Cellular fell nearly 4 percent after the company’s quarterly net profit slipped to 1.80 billion rupees from 2.20 billion rupees a year ago.

Idea Cellular lagged market estimates as quarterly profit fell on lower call prices, but the firm said improving economic conditions and 3G services would boost revenue in future quarters.

Shares in the company closed 3 percent lower at 69.65 rupees.

Idea has managed to keep its investors happy, posting returns of over 20 percent for the year. Do you think it is the right time to invest in this counter?

Deals wrap: What’s next for Apple?

Apple Chief Executive Steve Jobs smiles after the Apple's music-themed September media event in San Francisco, California September 1, 2010. REUTERS/Robert GalbraithShares of Sony rose nearly 3 percent at one point on Tuesday, but later retreated as analysts dismissed speculation that the electronics maker could be an acquisition target of Apple. *View article *View WSJ article looking at an Apple tie-up with Netflix

Warren Buffett’s Berkshire Hathaway said hedge fund manager Todd Combs would join the firm, potentially bringing the company a step closer to solving Buffett’s succession puzzle.*View article *View background article on Todd Combs

The NYT’s Andrew Ross Sorkin delves into SEC insider trading laws and how they apply to two rail yard employees facing charges. *View article

Dr Reddy’s touches 52-wk high after results

MARKETS-SOUTHASIA-STOCKS/

Shares in Dr Reddy’s Lab soared to their 52-week high of 1667 rupees on the first day of trade after the company declared quarterly results.

Dr Reddy’s Laboratories Ltd, India’s No. 2 drugmaker by sales, on Saturday reported a 32 percent jump in net profit for the quarter ending September, topping estimates.

Shares in Dr Reddy’s closed 1.3 percent higher at 1638 rupees.

The drugmaker said domestic sales jumped 25 percent in the quarter, helping boost profits.

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