ONGC share sale may open on March 15: Chairman

A planned share sale in Oil & Natural Gas Corp may open on March 15, said A.K. Hazarika, who took charge as the state-run explorer's chairman on Tuesday.



Comments

Post a Comment

Popular posts from this blog

Indian OIS nearly steady; mkt awaits fresh cues

MUMBAI: Indian overnight indexed swaps (OIS) were largely steady on Friday as traders sought fresh triggers for further direction. At 1:35 p.m., the one-year OIS rate was at 7.35 percent compared with 7.37 percent at close on Thursday. The benchmark five-year swap was at 7.95 percent, from 7.98 percent on Thursday. Volumes were at 7.75 billion on the central bank's trading platform. "There are no fresh cues currently and there will be concerns on the next fiscal year's borrowing which will keep the pressure on the back end of the curve," said a senior trader at a foreign bank. Traders said they see the one-year OIS rate supported at 7.30 percent and five-year at 7.90 percent levels. The OIS curve has flattened this month with the one-year OIS rising 26 basis poi...
Keep reading

S.Africa's rand steady vs dollar, futures flat

JOHANNESBURG: South Africa's rand steadied against the dollar on Thursday in what was expected to be a range-bound session for the currency pair in the absence of any scheduled news or data. The JSE's blue-chip March stock futures contract edged up to 0.10 percent, pointing to a flat open on the bourse at 0700 GMT. Analysts say investor risk aversion driven by political instability in Egypt has eased and the South African Reserve Bank seems to have stepped down its dollar-buying activities this week, suggesting a bias to a strengthening rand. At 0633 GMT the rand was trading at 7.1535, slightly firmer than its New York close of 7.1620 on Wednesday. The currency has strengthened gradually during the week, making small gains away from four-month lows of Monday. In Thursday's session dealers say dollar/rand should stay in a 10 cent...
Keep reading

FCCB repayments may test Indian cos

MUMBAI: India Inc is bracing up for repayment of foreign currency convertible bonds (FCCBs) as they fast approach the maturity or conversion dates in 2011. Many of them are discussing refinance options in a market facing liquidity and inflationary pressures. And these companies may be left with no option but to buyback or repay bondholders as their stocks are trading lower than the price at which these bonds would convert into equity shares. It is estimated that Indian companies raised over $20 billion in FCCBs in the four years preceding the market crash of 2008. The FCCB binge had peaked around 2006-07, with these bonds raised then coming up for conversion five years later. Most of these were zero coupon bonds with significant redemption premium, which effectively accounts for yield-to-premium ( YTM )) for bond-holders. Jubilan...
Keep reading