Sensex 29182.95 -498.82 -1.68%
Nifty 8808.9 -143.45 -1.6%
“We are delighted to note that guidelines for licensing of new banks have finally been issued. The suspense for Industrial Houses has ended and the guidelines clearly state that private sector, Public sector and existing NBFCs shall be eligible. It is heartening to note that the guidelines emphasize the requirement of sound credentials, integrity and successful track record. We of course need to study the detailed guidelines, the fine print and transition provisions.
Mahindra Finance which has strong rural presence and track record of good governance will definitely look at this opportunity after review by its Board and the Board of the parent company Mahindra & Mahindra Limited.”
Bharat Doshi, Chairman, Mahindra & Mahindra Financial Services Limited
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.