Airtel’s $1 Billion share sale; Sanjiv Puri on FMCG | Top Headlines
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Top Headlines of the Day - It is a positive start for Indian Equity Markets. Markets opened higher today because fortunately, Asian markets are holding up. About 800 stocks are standing to the advances which is about 200 odd to declines. BSE Sensex was up 396.16 points at 31,071.91 while the Nifty50 index traded higher at 9,149.80 by 111.40 points. The important stocks to be on the lookout for are ITC after its phenomenal rally that played out last week when ITC acquired 100% stake in Sunrise Foods. Also, Bharti Airtel became the top loser in the Nifty index down by almost 3.84%. NCC, JustDial and Eicher Motors are other stocks to look out for. - Bharti Telecom, the parent company of Bharti Airtel is planning to sell Airtel’s stake. The company is planning to raise almost $1 billion by selling shares in the mobile phone operator through a block deal on Tuesday at ₹ 558 a unit, according to a term sheet of the planned sale seen by Economic Times. “A block deal is expected tomorrow. Promoters plan to sell up to 2.75 per cent stake,” a banker said. Airtel’s shares ended 0.2 per cent down at Rs 593 on Friday. Both BSE and NSE were shut for trading on Monday. We are facing challenges due to a halt in economic activity. Opportunity in FMCG, health & wellness, nutrition & hygiene are plenty. Consumers will seek trusted brands post COVID19. Adjusting to the new normal is incredibly important and FMCG business is slowly getting back to normal. There is a good demand for consumer staples, food & personal hygiene, but on the other hand consumer discretionary spendings is under stress. Our hotels are not operational, business severely impacted but our Agri segment is slowly getting back to normal. Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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