Sensex Trades Marginally Higher; Vedanta & ICICI Bank Top Gainers

Share markets in India are presently trading on a positive note. Sectoral indices are trading on a mixed note with stocks in the energy sectormetal sector and realty sector witnessing maximum buying interest while telecom stocks and automobile stocks are witnessing selling pressure.

The BSE Sensex is trading up by 85 points (up 0.3%), while the NSE Nifty is trading up by 26 points (up 0.3%). The BSE Mid Cap index is trading up by 0.5% and the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at Rs 71.17 against the US$.

In the news from the finance spaceDHFL share price is in focus today as the promoters of the company have mandated Barclays Group Plc and NM and Rothschild to run a formal process to find a buyer.

As per an article in The Economic Times, holding company Wadhawan Global Capital has initiated talks with more than a dozen financial and strategic investors in India and abroad to sell a controlling stake.

Here's an excerpt from the article:

  • Private equity funds including Blackstone Group, KKR & Co and Baring Private Equity besides strategic investors such as Hero Group and Piramal Group have been sounded out for a potential sale. Fullerton India, promoted by Singaporean sovereign fund Temasek Holdings, is another potential strategic investor that has been targeted.

Blackstone acquired Aadhar Housing from DHFL a few weeks ago, while Hero and Baring were in the final fray for the same asset. Wadhawan Global Capital's 39.2% stake in DHFL is valued at Rs 16 billion, sharply down from its peak of Rs 85.2 billion last year.

Last week, the company's Chief Executive Harshil Mehta has resigned. However, the company said in its regulatory filing that Harshil Mehta would continue to be associated with the company and shall hold the designation of Executive President - Retail Business with effect from February 14, 2019.

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