DO YOU KNOW?
1. Merger talks between Reliance Communications (R-Com) and
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 .
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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..
The British government and political classes are overwhelmingly in favor of the European Union. So, crucially, is the country’s powerful civil service. British businesses are closely intertwined with the European single market. Attempts to disentangle them could lead to chaos. And the British economy is propped up by huge inflows of foreign capital, buoying everything from industry to London house prices.
Therefore, for the time being you can stop fearing thinking about the possible negative outcomes from the BREXIT.
3. The Economic Times reported on 13 June, 2016 that Raos, the promoter family of large infrastructure company Lanco, will have to become minority shareholders and the company will have to go through extensive restructuring if it has to stay afloat. This is part of a reorganisation plan that the Lanco management discussed with banks on Friday evening.
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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:
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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.