Sensex 29182.95 -498.82 -1.68%
Nifty 8808.9 -143.45 -1.6%
L&T Finance Holdings, the financial services arm of L&T, is planning tobuyout Pantaloon Retail's stake in the latter's general insurance joint venture Future Generali India Insurance Company, according to reports.
Reports stated that a formal announcement is expected within the next 2-3 weeks.
Currently L&T General Insurance Company is a wholly-owned subsidiary of parent L&T, founded two years ago, says report.
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.