Soft start as Bharti Infratel lists - IIFL

The country's growth has been scaled down and the PM and FM have again hinted at the need for some tough measures. The Planning Commission has projected 8% economic growth for the 12th Plan. The PM has called the revised target ambitious warning that a 'business-as-usual' approach will not help.

The opening is set to be subdued today as indices will look at some recovery from Thursday's fall. Turnover in F&O was at an all time high of ~ Rs4.2 trillion. The focus for the day will be on the biggest IPO this year - Bharti Infratel, which will list today. The company raised around Rs 41.18bn. The company had fixed the issue price at Rs 220 per share for institutional investors, while giving a discount of Rs 10 for retail investors. A flat listing is expected today.

Asian markets are trading lower. US stocks managed to recover from sharp losses earlier in the day. White House officials said President Barack Obama will not send a fiscal cliff measure to Capitol Hill, while Republicans insisted they were expecting more details on the president's proposal.

Source : Equity Bulls

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