Jeff Chowdhry, Head-EM Equities at F&C Investments, says that the firm is still holding on to HDFC Bank, ITC, and TCS as they are rightly priced. “We like to pay for companies that execute well,” he adds. The firm also thinks the two-wheeler space and capital goods are interesting and looks forward to bets in the infra space.
Fat Prophets Resource Analyst David Lennox said a lot of gold is held only for speculative purposes. He sees near-term price volatility for gold and is ‘neutral to bearish’ on its prices.
In an exclusive interview with Bloomberg TV India, Jeff Chowdhry, Head- EM Equities at F&C Investments, said markets across the globe should get ready for easy money to end. “While the US Federal Reserve is not taking away liquidity tomorrow, markets need to adjust to a non-QE world,” he said.
NTPC CMD Arup Roy Choudhury said the dispute with Cola India over quality issues and incentive calculation has been resolved. The NTPC board has also approved new post-2009 fuel supply agreements with Coal India, he said, adding that NTPC needs to reconcile payment due to Coal India.
NTPC CMD Arup Roy Choudhury shares his business outlook for FY14. Speaking about plant availability, he said all NTPC plants are fully commissioned and fuel supply agreements were on track.
NTPC CMD Arup Roy Choudhury believes the government needs to examine the merchant power prices, along with other issues such as distribution system, consumer billing and ensuring availability to customers.
NTPC CMD Arup Roy Choudhury speaks about likely changes in the company’s tariff plans. He admitted that the weak rupee is putting pressure on gas prices but he does not see it having a long-term impact on cost.
David Lennox, Resource Analyst at Fat Prophets, speaks about Brent crude. He said that while there has been weak demand for some time, the demand-supply equation is likely to return. Fresh US and OPEC supply will also keep Brent at $100/bbl or lower, he added.
Fat Prophets Resource Analyst David Lennox said that market concern with the China slowdown is overdone. Although China is going through a credit crunch, it is well equipped to deal with such situations; growth will not be affected, he said.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months