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Domestic stocks looked headed for a positive start on Tuesday on fresh US stimulus and rising prospects of faster economic recovery globally. But concerns over inflation due to rising crude
oil prices and spike in US bond yields may keep a cap on any such gains.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 73.50 points, or 0.49 per cent, higher at 15,055.50 in signs that Dalal Street was headed for a positive start on Tuesday.
Tech View: Nifty support at 14,860
Nifty on Monday formed a small bearish candle on the daily chart with a long upper wick, suggesting selling at higher levels. Analysts said relatively longer upper shadows in the last three sessions, with small and negligible candle bodies may be hinting at impending weakness, which may get confirmed with a close below the 14,862 level. On the upside, Monday s high of 15,111 would not pose a near-term hurdle for the index, they said.
Air India Employess’ consortium out of bid race The government is looking to complete the process of the airline’s privatisation by next fiscal
The proposal of the employees of Air India to take over the running of the ailing carrier has been rejected by the transaction adviser, leaving the Tatas as the favourite in the privatisation race along with Pawan Ruia and SpiceJet promoter Ajay Singh .
“The financial bids would be called soon as the first stage of the process is over,” sources said.
The employees had partnered a Seychelles-based fund for the venture. Transaction adviser EY had questioned the operations of the fund which led to the rejection.
Tatas, SpiceJet’s founder among few left in Air India race
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Air India employees’ consortia disqualified from bid; Tatas & Ajay Singh among those in race now
NEW DELHI: The race for acquiring Air India is fast narrowing down, with the Tata Group and SpiceJet promoter Ajay Singh among the few left in the bid to take over the airline. A section of Air India employees led by the airline’s director (commercial) Meenakshi Mallik has not made it to the list of qualified bidders.
“We were informed (by transaction advisor Ernst and Young LLP India) on Sunday that we did not make it,” Mallik told TOI on Monday. AI founder Tatas are seen as most likely to re-acquire it, being the only financially strong player in the fray.
Air Indiaâs employee consortium fails to qualify; Tata and Spicejet continue in the race
Sarangib
While Tata and Spicejet continue in the bidding process for Air India, the consortium of Air India employees that placed an expression of interest (EoI) has failed to qualify for the next round.
The government aims to complete the privatisation of the national carrier in the next fiscal.
The news of disqualification was given by Meenakshi Mallik, the airlineâs commercial director, to Air India employees.
Mallik spearheaded the ambitious attempt to take over the state-run carrier. As per the news report, Mallik informed the employees in a three-page letter that the consortium was out of the race.