Coal India Ltd (CIL) will remain in the thick of action in the next few days, as Sangita Chourre, Joint Secretary in the Department of Disinvestment in the Finance Ministry, said a stake sale in CIL is in “action plan”. The Government, which owns 89.65 per cent in CIL, will space out the disinvestments to ensure appetite for the issuances, she added. Coal India’s prospects look bright, as the Centre plans to increase coal supplies. The move will also help the Centre meet SEBI's shareholding norm.
Rating booster for Dewan Housing
The stock of Dewan Housing Finance Ltd is likely to witness interest on Friday, as Credit Analysis & Research Ltd upgraded the company ratings to 'AAA' for all categories from AA+ earlier. CARE assigned AAA ratings to the long-term bank facilities, non-convertible debentures and fixed deposits of DHFL, signalling that these instruments are considered to have the highest degree of safety regarding timely servicing of financial obligations. Safe investors, generally, look for these kinds of stocks.
FII limit talks to keep HDFC Bank in focus
HDFC Bank has received shareholders’ approval to hike the foreign shareholding limit in it to 74 per cent. Aditya Puri, MD, said the bank was in talks with the government to raise the limit. HDFC Bank had sought the Foreign Investment Promotion Board’s nod to hike the FII limit to 67.55 per cent, of which the FIIs’ sub-limit would be 49 per cent and the rest FDI. In December, the FIPB had deferred the proposal while the RBI had barred FII buying saying their holdings had hit the upper limit.