Opening Note: Markets may witness a feeble opening
Monday, March 2, 2009 9:40 amAlthough there may be a hope for RPL shareholders, several analysts look forward to the ratio to be in line with Reliance. It should be 16:1 and 24:1 RPL:RIL as the switch ratio between the two. RPL shareholders may lose out in case of the ratio being unhelpful. An promotion is expected for Reliance’s in demand E&P assets, SEZ and retail businesses. Reliance is expected to rally sooner or later.
Reliance’s significance is high in the chief indices however it is not likely to be able to face the ongoing headwinds from the international markets. The macro-economic view is becoming weak with each passing day that is apparant in the Quarter 3 Gross Domestic Product data. The government’s economicl state looks haywire. A feeble beginning is quite an usual thing now.
The international finances were net sellers at Rs3.16bn in the F&O segment. FIIs remained net sellers in the cash division at Rs2.38bn on Thursday. FIIs remained net sellers in the cash division on Friday at Rs4.63bn, whereas the local institutions registered Rs6.49bn.
