1. The Bombay Stock Exchange sensex closed at 16,371, with a gain of 356 points. This is in spite of the reported 54-week high inflation of 6.7%. It was metals, capital goods and IT stocks which led the rally at Dalal Street.
2. Tata’s JLR deal may go beyond US$2.3 billion.
3. Promoter of the cult café brand Café Coffee Day (CCD) is set to brew a major equity deal, valued at $250 million with JP Morgan.
4. Stocks in beaten India markets are still expensive says a Dutch financial firm (Robeco Group), which manages about $200 billion in assets globally.
5. Indian government wants 3 players for 3G. Among 6 telecom majors only two qualify along with BSNL/MTNL.
6. Microsoft’s takeover attempt against Yahoo may encounter an unexpected hurdle in August from China, which has 40% stake in Alibaba.com, China’s largest e-commerce business.
7. The US’ presumptive Republican presidential nominee, Senator John McCain has strongly supported India’s entry into the elite G-8 to make it a club of leading market democracies.
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