Wednesday, June 22, 2016

1. Merger talks between Reliance Communications (R-Com) and
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Aircel will be extended by a couple of weeks, as both parties are thrashing out the final contours of the deal with their bankers, reported Business Standard. On 22 May, both had decided to extend exclusive merger talks with each other by a month, a deadline that will expire on Wednesday. Lenders are putting their weight behind the merger and the State Bank of India is leading this consortium of lenders. Read more .

The scrip of Reliance Communications Ltd, ended the day at Rs.48.50 in the BSE after touching an intra-day high of Rs.49.80.

2. BREXIT: The whole thing is a bit of a sham, said the financial portal, Market Watch on 21 June, 2016..

Therefore, for the time being you can stop fearing thinking about the possible negative outcomes from the BREXIT. 

The promoters holding in the company stood at 70.55 % while Institutions and Non-Institutions held 4.97 % and 24.48 % respectively.

Reports indicated that Tata Power Company, JSW Energy and Piramal Enterprises are among those who are interested in buying Lanco Group's power assets. A meeting of the joint lenders forum is scheduled to meet in the next few days to take a decision on the sale of the power business of Lanco Group. As per reports, Lanco Group, has power assets of about 8,000 megawatts (MW), and is seeking about Rs.4.50 crore per MW while buyers are bidding at about Rs 3 crore per MW. Lanco Group's power business' enterprise value is pegged at Rs.45000 crore inclusive of debt, reports suggested.

This along with the new RBI rules, will  again help investors gravitate towards the scrip of Lanco Infratech Ltd (Rs.4.87). 

4. Fixit: The First Post wrote on 21 June, 2016: 

Therefore, sit back and enjoy the rally in the infrastructure stocks as it unfurls, in the coming days; since the government is likely to pursue a loose monetary policy following the Rexit. 
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