Foreign Firms Are Selling Indian Stakes as Stocks Hit New Highs bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
At least seven firms including US home appliance giant Whirlpool Corp. and Singapore Telecommunications Ltd., have reduced holdings in their local units since June, data compiled by Bloomberg show. British American Tobacco Plc. said Monday its preparing to sell a part of its stake in partner ITC Ltd.
So far today. on the BSE, out of 3.838 stocks, 422 rose, 3.340 fell, and 76 remained unchanged. Today s ratio stands at 0.13, compared to 0.28 on March 12 and 0.39 on March 11. In March, only four days recorded a ratio above 1, with the remaining days trading below 1.
At least seven firms including US home appliance giant Whirlpool Corp. and Singapore Telecommunications Ltd., have reduced holdings in their local units since June, data compiled by Bloomberg show.
Deven Choksey says ITC s stake sale to financial investors is expected to unlock valuation and boost market capitalization. HAL remains a strong bet in the defense sector. Chemical sector shows signs of improvement. Auto ancillary companies offer strong investment potential. Choksey further says: "We believe that currently automobile ancillary companies are remaining relatively stronger plays."