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.
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