Stocks

What to watch: Network 18 group: Open offer ends on Monday

| Updated on August 01, 2014 Published on August 01, 2014

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Shares of Network18 group companies will remain in focus next week, as the open offer from Reliance Industries concludes on August 4. Reliance has made an open offer to acquire a 21.96 per cent stake in Network18 Media & Investments at ₹41.04 a share. It also plans to acquire a 26 per cent stake each in TV18 Broadcast and Infomedia Press at ₹30.18 and ₹3 apiece, respectively. The NW18 Group has interests in television, Internet, e-commerce and other allied businesses. Response to the offer will set direction for the stock.



Rights issue to keep Indian Hotels active

The ₹1,000-crore rights issue from Indian Hotels Company will open on Monday. Funds raised through the issue, which closes on August 20, will be utilised to repay debt. The company offers nearly 18.2 crore 'compulsorily convertible debentures' for cash at ₹55 apiece to its existing shareholders on rights basis. Every investor holding 40 equity shares of IHCL would be eligible to buy 9 compulsorily convertible debentures of the company. The response to the issue would be keenly watched by analysts.



Saturday results could set trend next week

Shares such as Grasim Industries, Balakrishna Industries, Andhra Bank, Bank of Maharashtra, Godrej Properties and Godfreh Phillips will react to their April-June quarter financial performance. All these companies are declaring their quarterly results on Saturday. Street will have special interest on Grasim. Analysts expect pressure on margins, lower realisations in the viscose staple fibre business and poor results of arm UltraTech Cement to weigh on the Grasim's performance.



Published on August 01, 2014
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