Mergers and acquisitions of PSU banks will be a major theme at the two-day 'Gyan Sangam' on January 2-3, where chiefs of banks will hold deliberations with the Prime Minister, Finance Minister and the RBI Governor. According to reports, there will be sessions by experts, including global consultancy firms that will discuss best practices and technologies. Analysts will closely track the developments at the event. There are 27 public sector banks, including five SBI associates.

Spice Mobility board to decide on delisting

Shares of Spice Mobility will remain in focus at the bourses, as its board of directors meets on Friday to consider a proposal from its promoter to voluntarily delist the equity shares of the firm from the NSE and the BSE. As of September 30, Smart Ventures Pvt Ltd, the promoter of the company, held 74.36 per cent stake in Spice Mobility. Mahesh Prasad, Independent Non-Promoter Trust, held 20.72 per cent stake, followed by individuals (2.83 per cent) and bodies corporate (1.44 per cent).

Metal stocks to see higher activity

Year 2015 began well for metal counters. The BSE Metal index on Thursday gained over one per cent after growth in China’s services sector picked up slightly in December. China is the world’s largest consumer of steel, copper and aluminum. Nalco, Jindal Steel, Sesa Sterlite, JSW Steel, NMDC, Tata Steel, SAIL and Hindalco gained. These stocks will continue to see higher activity on hopes the Cabinet will take the ordinance route to amend the Mines and Minerals (Development and Regulation) Act.

Related Topics
comment COMMENT NOW