Here are stocks that are in news today:
Finance Ministry sources say-At least 8-9 PSUs may see IPO & FPO in FY12
-RINL, MMTC, PFC, NBCC among those on sell-off list CNBC-TV18 Exclusive - Finance Ministry sources say
-Govt may consider higher public float for PSUs in FY12
CNBC-TV18 alert:
-Currently, 10% public float mandatory for PSUs
-Finance Ministry announced mandatory 25% float in June 2010
Finance Ministry sources say:
-Higher divestment will help mop-up resources in FY12
-Disinvestment will continue to be thrust area for govt
-Non-tax revenues will boost fiscal consolidation efforts
-Scope to raise tax rates sharply limited to some extent
CNBC-TV18 alert:
-Govt may target 4.8% fiscal deficit in FY12 Patni to CNBC-TV18
-Open offer expected in April
-Change of control should happen closer to April
-In interim will concentrate on integration
-Too premature to talk of delisting or reverse merger
-Current focus on integration & go to market strategy iGATE says
-Had very preliminary discussion with GE
-GE revenues expected to come down post it comes out of NBC
-Have indication that GE views transaction positively
-To become 2nd largest supplier to GE post TCS
-GE will account for 13% of revenue for combined entity
-Expect management meet with both teams in 3-4 weeks
-Have spoken to top customers of both companies
-See potential to see earnings grow faster than revenues
-See USD 20-30 million cost synergies in back-office side
-Execution record of Patni to ensure customers stay
-Will be meeting lot of customers over next few days
-Growth suffered as Patni suffered from
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