Tag: Closing Bell

Market at close | Sensex, Nifty 50 end flat — financials and realty drag, pharma gains

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market closed with the Sensex and Nifty 50, exhibiting a relatively flat performance. The Sensex slipped by 169 points to 71,315, while the Nifty 50 declined by 38 points to 21,419.

The Nifty Bank experienced a notable dip of 276 points, closing at 47,868. However, the Midcap index saw a surge, reaching a record high with a rise of 99 points to 45,685.

In sectoral performances, financials showed relative underperformance, with ICICI Bank notably dragging down the Nifty Bank. On the flip side, the midcap outperformance trend continued, and 2-wheeler stocks, particularly Bajaj Auto, witnessed notable buying, leading to a 3% increase in stock value.

The top gainers on the Nifty 50 were Bajaj Auto, Adani Ports, Sun Pharma, Hindalco Industries and Reliance Industries while the top losers  were Power Grid Corporation, JSW Steel, ICICI Bank, ITC and Tech Mahindra,

Pharma stocks emerged among the top gainers, with Zydus Life and Sun Pharma securing prominent positions. IRCTC recorded its third-largest single-day gain ever, experiencing an impressive rise of up to 13%.

Siemens experienced a surge following the company’s announcement of exploring an energy business demerger. Meanwhile, sugar stocks broke their losing streak after the government reversed its ethanol policy, resulting in a 2-10% increase in stock values.

On the downside, realty stocks saw profit booking, with Godrej Properties and Oberoi witnessing falls of over 2% each. South cement stocks, including India Cements and Ramco Cements, slipped in trade with a 2% decrease each.

Metal stocks, however, remained in an upward trajectory, with Nalco and SAIL emerging as top gainers. SpiceJet saw a significant surge, rising up to 20%, following reports of Consortium Aviation expressing interest in acquiring Go First.

The overall market capitalization of BSE-listed companies reached a record high of ₹359 lakh crore. BSE-listed companies collectively added a market cap of over ₹1 lakh crore on Monday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 touch fresh record high — IT and Metal shine

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market continued its rally, setting new records as Nifty crossed the 21,400 mark and Sensex surged above 71,000. The upward trend was driven by robust buying in the IT sector, with Nifty IT reaching a 20-month high. Metal stocks also witnessed a surge, tracking the fall in the dollar, leading Nifty Metal to achieve a record high.

IT stocks dominated the scene, with many reaching either record or 52-week highs. HCL, TCS, and Infosys emerged as the top gainers on the Nifty. A last-hour rally propelled Nifty Bank above 48,000, with SBI contributing significantly to this surge.

Sensex rose by 970 points to reach 71,484, and Nifty gained 267 points to touch 21,450. Nifty Bank witnessed a gain of 341 points, closing at 48,073, while the Midcap Index rose by 54 points, settling at 45,588.

However, the insurance sector faced challenges as stocks extended their fall following a surrender value proposal, resulting in a 2-4% decline. On a positive note, chemical stocks experienced increased buying, with Tata Chem and Deepak Nitrite emerging as the top gainers.

Adani Group heavyweights witnessed substantial gains, pushing the group’s market capitalization to an 11-month high of ₹14.50 lakh crores. The broader market reflected the positive sentiment, with BSE-listed companies adding ₹3 lakh crores in market capitalization on Friday and ₹9 lakh crores for the week.

The overall market capitalization of BSE-listed companies reached a record high of ₹358 lakh crores.

In the currency market, the Indian rupee saw a sharp upward move in the last hour, closing at a three-month high. It gained 33 paise against the US dollar, ending the week at ₹83 compared to Thursday’s close of ₹83.33.

Market this week

Summing up the week, the market registered gains for seven consecutive weeks, a feat not achieved in the past three years. All sectoral indices recorded gains, with IT, metal, and PSU banks leading the way.

Thirty-six Nifty stocks posted gains, with HCL, L&T Infotech, and Hindalco emerging as the top gainers. Sensex, Nifty, Midcap Index, and Nifty Bank all rose over 2% each for the week. However, a few Nifty losers included BPCL, DRL, Maruti, Nestle, and Titan.

Among the top midcap gainers for the week were NALCO, SAIL, GMR, Persistent, Coforge, and Info Edge, highlighting the broad-based positive momentum in the market.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 recover from intra-day lows — IT index underperforms

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market staged a smart recovery that left the indices largely in the green. The Sensex climbed 34 points to reach 69,584, while the Nifty 50 rose by 26 points, settling at 20,932.

However, the banking sector witnessed a dip as the Nifty Bank fell by 5 points, closing at 47,092. On the flip side, the Midcap Index experienced a significant surge, rising by 391 points and concluding the day at 44,947.

The top gainers on the Nifty 50 were NTPC, Hero MotoCorp, Power Grid Corporation, Eicher Motors and M&M. The losers were TCS, Infosys, Bajaj Finserv, HDFC Life and Axis Bank.

With respect to the sectoral indices, Nifty Auto, Nifty Power, Nifty Pharma, Nifty Capital goods and Nifty Realty closed up 1% each, while Nifty  Information Technology index closed down 1%.

The cautious sentiment among investors, particularly in the Information Technology (IT) sector, weighed on the market. Investors held back, awaiting the Federal Open Market Committee (FOMC) decision.

Amidst the market fluctuations, REC and PFC emerged as the top midcap gainers, hitting record highs with an impressive rise of up to 9%.

In other market highlights, Mahindra & Mahindra (M&M) closed 2% higher, fueled by its announcement to invest ₹525 crore in Classic Legends.

PI Industries experienced a dip in the red, but recovered from its lows after retaining the FY24 growth guidance. Meanwhile, Axis Bank ended more than 1% lower following the exchange of 3.09 crore shares via block deals.

GMR Airports witnessed a substantial surge of 5%, reaching multi-year highs with healthy trading volumes.

The realty sector had a standout day, with Nifty Realty hitting a record high and Prestige Estates gaining nearly 6%.

Aviation giant IndiGo also soared to new heights, achieving a record intra-day high and closing nearly 2% higher.

A positive brokerage note lifted NMDC, resulting in a 4% higher closing for the stock.

(Will be updated)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Nifty 50, Sensex end lower — HDFC and RIL top laggards

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a turbulent day of trading, the market struggled to maintain its early gains and ultimately closed in the red. Heavyweights such as HDFC, RIL, and L&T emerged as top drags on the Nifty index, contributing to the overall decline.

The Sensex ended in red, down  378 points, closing at 69,551, while the Nifty 50 dropped by 96 points to settle at 20,901. The Nifty Bank was down by 217 points, closing at 47,098, and the Midcap index slipped 173 points to 44,556.

Top losers were BPCL, Apollo Hospitals, Maruti Suzuki, Sun Pharma and Eicher Motors, while gainers included HDFC Life, UltraTech Cement, Bajaj Auto, SBI Life Insurance and Axis Bank.

Except Metal, all other sectoral indices ended in the red with capital goods, oil & gas, power and realty down 1% each.

In sector-specific movements, the 2-wheeler segment, represented by Bajaj Auto and Hero, witnessed gains. On the contrary, 4-wheeler stocks faced a dip following the release of SIAM data.

ITC managed to close in the green, although it retreated from its highs ahead of an analyst meet. Meanwhile, IREDA continued its upward trajectory, tripling from its IPO price within just 10 days of listing.

PI Industries declines 10% amid reports of heightened competition in the Pyroxasulfone market. Mankind Pharma also experienced a nearly 4% decline after 8.7% of its equity changed hands through a block deal.

Can Fin staged a recovery from its lows, closing 3% higher, driven by positive commentary from the management. HDFC Life emerged as the top gainer on the Nifty, surging more than 5% on the back of a ₹232 crore tax demand relief.

SpiceJet, on the other hand, faced a 5% decline following disappointing Q2 results and approval for a ₹2,250 crore fund raise.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Nifty at 21,00, Sensex crosses 70,000 and midcap index resumes uptrend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The stock market achieved a record closing, although it fell from its intra-day highs. The Sensex surged past the milestone of 70,000 points during intra-day trading.

The Sensex managed to rise by 103 points, settling at 69,928, while the Nifty 50 gained 28 points to close at 20,997. The Nifty Bank also experienced a boost, gaining 52 points to reach 47,314, and the Midcap Index soared by 329 points, closing at 44,729.

The Midcap Index resumed its upward trend, with notable gains from Dixon Tech and Polycab emerging as the top midcap gainers. Across all sectoral indices excluding Nifty Pharma, the day concluded on a positive note, with Nifty PSU Bank leading the gainers.

Top gainer on the Nifty were UPL, UltraTech Cement, ONGC, Adani Enterprises and LTIMindtree, while losers were Dr Reddy’s Laboratories, Cipla, Axis Bank, BPCL and M&M.

Among sectors, PSU Bank, FMCG, power, metal, realty up 0.5-1%, while pharma index down 0.4%

Wockhardt saw a surge of over 14% following the successful Phase 3 clinical trial of Nafithromycin. GMR Airports continued its positive trajectory from Friday, reaching a 15-year high with an increase of more than 6%.

Zee witnessed a gain of over 2%, as the Supreme Court agreed to hear a bankruptcy plea against Zee Founder. In the sugar sector, stocks rose ahead of an industry meeting with the Petro and Gas Ministry concerning ethanol production issues.

However, Dr. Reddy’s ended the day as the top Nifty loser due to US FDA observations on its Bachupally unit. On the flip side, Polycab emerged as the most valued cables and wires company, surpassing Havells’ market capitalization.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Nifty 50’s best weekly run in three years leaves investors richer by ₹12 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market concluded the trading day on a historic note, with the Nifty 50 soaring to an all-time high of 21,006 during intra-day trading. The record close was fueled by a last-hour surge, particularly in the banking sector leaving investors richer by ₹12 lakh crore. 

The Sensex registered an increase of 304 points, closing at 69,826, while the Nifty gained 68 points to reach 20,969. Meanwhile, the Nifty Bank recorded a substantial rise of 421 points, settling at 47,262. However, the Midcap Index faced a dip of 95 points, concluding the day at 44,000.

The Nifty Bank witnessed a significant uptick, achieving a record high, primarily propelled by the stellar performance of HDFC Bank. However, the Midcap Index, after reaching an unprecedented peak, experienced a setback, snapping a 25-day gaining streak.

The collective market capitalization of listed companies reached an unprecedented high, surging to an impressive $4.18 trillion. Furthermore, on Friday, 14 out of the 50 Nifty stocks marked multi-year highs, contributing to the overall bullish sentiment.

HCL Technologies, JSW Steel, LTIMindtree, Apollo Hospitals and Infosys were among the top gainers on the Nifty, while losers were Adani Enterprises, ITC, Adani Ports, Hero MotoCorp and Britannia Industries.

On the sectoral front, FMCG, oil & gas and power indices down 1 percent each, healthcare and auto down 0.5 percent each. Om the other hand, bank, Information Technology and Realty up 0.5-1 percent.

GMR Airports witnessed a notable surge, climbing up to 13% following reports of GQG acquiring a stake. The financial stocks in the midcap space also experienced positive momentum, with RBL emerging as the top gainer.

In the Information Technology sector, stocks witnessed an upward trend with healthy volumes. Notable gainers included HCL, LTIMIndtree, among others. However, Adani Group stocks faced profit booking, closing the day with all stocks in the red.

The announcement regarding ethanol impacted sugar stocks, putting them under pressure. Stocks like MCX, Escorts, BHEL, and IEX saw profit booking during the trading session. The overall market breadth favored declines due to midcap underperformance, with the NSE Advance-Decline Ratio standing at 3:4.

Market this week

In a broader weekly perspective, the market celebrated its most substantial weekly gain since July 2022. The bullish trend persisted for the sixth consecutive session, marking the longest gaining streak in three years. Both the Sensex and Nifty recorded gains of more than 3%, while Nifty Bank outperformed with a remarkable surge of over 5%.

The Midcap Index sustained its positive momentum, rising over 2% and securing a weekly gain for the sixth straight week. Notably, the PSU Bank Index emerged as the week’s champion, posting a remarkable 7% gain – the most significant weekly increase in three months.

Forty-two Nifty stocks witnessed weekly gains, with Adani Ports and Adani Ent emerging as the top gainers. Among midcap stocks, Tata Power, RBL, GMR, ACC, and Ambuja secured their positions as the week’s top gainers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 snap 7-day gaining streak, midcap index ends at record high for 15th session

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Midcap Index concluded yet another trading day on a high note, marking a record closing high for the 15th consecutive session. In contrast, the broader market saw the Sensex slipping by 132 points to 69,522, and the Nifty experiencing a decline of 37 points to 20,901.

While the Nifty Bank managed a gain of 7 points, closing at 46,841, the Midcap Index surged by 263 points to reach 44,495. The positive trend in Public Sector Undertaking (PSU) stocks persisted, with many reaching multi-year highs.

Top losers on the Nifty were Bharti Airtel, HUL, ONGC, Apollo Hospitals and Tata Steel, while gainers included Power Grid Corporation, Adani Ports, UltraTech Cement, Cipla and Grasim Industries.

A mixed trend was seen on the sectoral front with auto, healthcare up 0.5 percent each, oil & gas index up 1 percent and power index rose nearly 3 percent, while FMCG and Metal indices down 0.5 percent each.

Tata Power emerged as the top gainer in the Midcap segment, experiencing a 12% surge following a double upgrade. On the other hand, LIC rose by 17% throughout the week and reclaiming a market cap of ₹5 lakh crore.

City Gas stocks experienced a notable surge, driven by falling global prices, with MGL emerging as the top gainer. However, the tyre stocks market witnessed a mixed close, with Apollo slipping while MRF recorded gains.

IDFC First Bank and Bharti faced a downturn after a change of hands through a block deal. Paytm also faced a setback, sliding by 19% due to the company’s plan to reduce low ticket-size loans.

The government’s share sale via Offer for Sale (OFS) impacted IRCON, causing the stock to close 7% lower.  Adani Group stocks closed in the green, with Adani Total emerging as the top gainer.

Power stocks extended their gaining streak, fueled by rising demand, with Power Grid standing out as the top gainer. 2-wheeler stocks rebounded from Thursday’s losses, with Eicher leading the gains.

In a notable development, the government has advised mills against using sugarcane juice for ethanol production, leading to a slip in sugar stocks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 off record highs but ends in green, financials underperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a day of mixed trading, the Indian stock market witnessed a retreat from its recent record highs, although the overall sentiment remained positive. The benchmark indices, Nifty and Sensex, extended their winning streak to the seventh consecutive session, posting modest gains amid sectoral variations.

The Sensex surged by 358 points, closing at 69,654, while the Nifty gained 83 points to reach 20,938 by the end of the trading day. However, the Nifty Bank experienced a dip, falling 178 points to 46,834, while the Midcap Index rose by 109 points to 44,232.

Wipro, LTIMindtree, ITC, L&T and TCS were among top gainers on the Nifty, while losers were Adani Enterprises, Eicher Motors, Cipla, NTPC and UltraTech Cement.

Most of the sectors ended in the green with capital goods, FMCG, Information Technology, oil & gas and power up 1-2 percent, while bank, healthcare down 0.5% each.

Auto stocks faced a significant setback as CLSA downgraded several key players, leading to a slump in the overall sector. Eicher Motors, in particular, bore the brunt with a 2% decline in its stock value.

Wipro and ITC emerged as the top gainers on the Nifty, contributing to the indices’ positive performance. The Nifty IT sector outshone others, while Nifty FMCG reached a record high intra-day.

Fertilizer stocks witnessed a notable surge following the government’s proposal for an additional fertilizer subsidy of ₹13,350 crore, awaiting parliamentary approval.

Hindustan Aeronautics Limited (HAL) marked a historic high intra-day, registering a growth of over 6%, reflecting positive investor sentiment in the aerospace and defense sector.

On the flip side, cement stocks remained under pressure, with ACC experiencing a nearly 3% decline and UltraTech slipping more than 1%.

Sterling & Wilson garnered attention as it hit the 5% upper circuit, prompted by reports indicating the company’s plans to raise ₹1,500 crore through a Qualified Institutional Placement (QIP).

While most Adani Group stocks closed in the green, Adani Enterprises stood out as the top loser among Nifty components, highlighting the diversified performance of the conglomerate’s various subsidiaries.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market ends at record close, led by ICICI Bank, HDFC Bank, Adani twins

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a continuation of Monday’s positive momentum, the market witnessed further gains, culminating in a record close. Frontline indices marked their second consecutive day of achieving record highs.

The broader market indices displayed robust performance, with the Sensex reaching a record high of 69,381, the Nifty touching 20,864, and the Midcap Index hitting 44,188.

Top gainers on the Nifty were Adani Enterprises, Adani Ports, Power Grid Corporation, NTPC and SBI, while losers were LTIMindtree, HCL Technologies, Divis Labs, HUL and Bajaj Auto.

Mixed trend was seen on the sectoral front with Power index up 6 percent, oil & gas index up nearly 2 and Bank index up 1 percent, while Information Technology and Realty indices down 0.5 percent each.

The Adani Group played a significant role in this upswing, with its shares surging by up to 17%. As a result, the market capitalization of the Adani Group reached an impressive figure of almost ₹14 lakh crore. Notably, three out of the ten Adani stocks managed to recover all the losses incurred since January 24.

Over the last three trading sessions, the Adani Group contributed substantially to the market, adding nearly ₹3 lakh crore to its market capitalization. Meanwhile, the Midcap Index showcased resilience, bouncing back from lows to secure a record close for the 13th consecutive session.

On Tuesday, as many as 19 Nifty stocks achieved either record highs or 52-week highs. The Sensex climbed by 431 points to settle at 69,296, while the Nifty rose by 168 points, closing at 20,855. The Nifty Bank also made significant gains, adding 581 points to reach 47,012, and the Midcap Index saw an increase of 204 points, concluding at 44,123.

However, the IT stocks experienced a dip, mirroring the fall in the Nasdaq. Among the sectoral indices, Nifty IT emerged as the top loser.

Private banks continued to be the primary contributors to both Nifty and Nifty Bank, with all constituents of Nifty Bank, except IndusInd, closing in the green.

The political landscape influenced the market, as BJP’s victory in state polls boosted infrastructure stocks, leading to upward movements in L&T, ABB, and Siemens.

On the flip side, Apollo Hospitals faced a decline in its stock value following reports of the Delhi government considering an investigation into the company.

PSU stocks sustained their upward trajectory, with NTPC and Power Grid reaching 52-week highs.

Although the market breadth slightly favored declines, with an advance-decline ratio at 4:5, the overall market cap of listed companies reached a record high of $4.15 trillion (₹346.5 lakh crore).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Nifty, Nifty Bank’s record breaking day leaves investors richer by ₹6 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market posted a record high driven by robust GDP growth and the BJP’s resounding victory in state polls. Frontline indices notched up record closes, witnessing their most substantial single-day surge in over a year. The bullish trend extended across the board, with 44 of the 50 Nifty stocks closing higher. Notably the surge left investors richer by ₹6 lakh crore. 

Both the Sensex and Nifty surged by 2%, marking their most significant single-day gain since October 2022. The Midcap Index had its 12th consecutive session of record closes. Nifty Bank witnessed a last-hour surge, achieving a record high and posting its best day since April 2022.

The Sensex rose by an 1,384 points to reach 68,865, while the Nifty 50 surged by 419 points to 20,687. Nifty Bank saw a surge of 1,617 points to 46,431, and the Midcap Index gained 536 points, closing at 43,919.

The top gainers on the Nifty 50 were Eicher Motors, Adani Enterprises, Adani Ports, BPCL and ICICI Bank  while losers included HDFC Life, Britannia Industries, Wipro, Sun Pharma and Titan Company.

On the sectoral front except Nifty Pharma and Media, all other sectoral indices ended in the green.

Adani Group stocks were standout performers, gaining up to 10%, propelling the market cap to its highest point in the last 10 months. All Nifty Bank constituents closed in the green, with HDFC Bank and ICICI emerging as top contributors.

Eicher Motors surged by 7% despite November sales falling below estimates. However, Zee Entertainment found itself among the top midcap losers due to a negative brokerage note.

Delta Corp was the sole stock in the F&O ban, closing with a 4% cut. Pharma stocks, despite a strong session, closed largely in the red, with Lupin emerging as the top loser.

The collective market cap of BSE listed companies reached a historic high, soaring to $4.10 trillion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow