Focus on asset arbitrage: Foreign promoters cashing out at lofty valuationsMoneycontrol • 28 days ago
In the recent times, we can see a lot of foreign parent companies cashing out from their Indian counter-parts at higher valuations
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Antfin Singapore Holding held 6.32 percent stake in Zomato til December 2023.
ased on the December quarter, Sumitomo Wiring held a 14.14 percent stake in Samvardhana Motherson, data from the stock exchange data showed
The floor price for the block deal has been set at Rs 121-122 per share, the persons privy to the development told CNBC Awaaz.
A drop below 21,700 might trigger panic in the Nifty 50. Conversely, a decisive move above 22,125 could spark a smart rally in the market.
Experts feel 21,000 is expected to be key to watch in the current week, which is full of events including interim budget, and FOMC meet outcome, while on the higher side, 21,500 is likely to be key hurdle, followed by the resistance of 21,700 levels.
The levels to monitor in the Budget week are around the psychological mark of 21,000, coinciding with 50-SMA. In the case of any negative surprises, Nifty may decline towards 20,800 or even towards the bullish gap of 20,500.
If the block deal fructifies in this quarter, then it will come exactly one year after Sumitomo's part stake sale in March 2023. At the time, Sumitomo had offloaded 3.4 percent stake in Samvardhana Motherson at Rs 70.1 apiece