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Tuesday, 23 September 2014

Nifty holds 8100 amid pressure; DLF down 4%, ICICI slips

The Sensex dropped 111.31 points to 27095.43 and the Nifty slipped 31.60 points to 8114.70. 

Hemant Kanoria, chairman and managing director, SREI Infrastructure Finance says the company is looking to divest its assets worth Rs 500-1000 crore and expects them to monetized by this fiscal year-end. 

Speaking to CNBC-TV18, Kanoria says the company is working on various routes, including initial public offer (IPO) to monetize telecom tower operator Viom Network.SREI Infra has an 18 percent stake in the company that is a joint venture (JV) with Tata Group 

The company may opt to list on either New York Stock Exchange (NYSE) or the London Stock Exchange (LSE), he further adds.

 Furthermore, Kanoria expects a better FY15 than the earlier year buoyed by the new government’s sincere intent at reviving the infrastructure sector.

 12:00pm Equity benchmarks remained under pressure amid consolidation. The 30-share BSE Sensex declined 82.42 points to 27124.32 and the Nifty fell 22.30 points to 8124.

 About 1165 shares have advanced, 1441 shares declined, and 129 shares are unchanged.

 DLF topped the selling list, down 4 percent as property prices in Delhi are set to rise. The Delhi government hiked circle rates - the minimum valuation at which properties have to be registered - by up to 20 percent with an aim to check black money component in sale and purchase transactions. The new rates will come into effect from today.

Shares of ICICI Bank, Reliance Industries, L&T, HDFC, M&M, Tata Motors, ONGC, Axis Bank, Cipla, Tata Steel, Hindalco, Bharti Airtel and Coal India dropped 0.8-1.9 percent. 

However, Wipro, Maruti Suzuki and Bajaj Auto bucked the trend, up 1-1.5 percent followed by Infosys, HUL, Hero Motocorp, NTPC, Dr Reddy's Labs and BHEL with 0.5-0.9 percent. More information please visit the site

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