Heard on the Street: LIC Housing back on foreign funds’ radar
Institutional investors , which stayed away from LIC Housing shares after the CBI investigation on the lender’s corporate loan cases, are buying the stock again.
By ET Bureau |
LIC Housing back on foreign funds’ radar
The corruption clouds that hovered over LIC Housing Finance appear to be blowing away. Institutional investors , which stayed away from LIC Housing shares after the CBI investigation on the lender’s corporate loan cases, are buying the stock again, especially after the company’s quarterly earnings beat estimates. According to dealers, foreign institution ‘Kala Patthar’ has been buying the stock. The stock, which has surged 11% in the past three trading sessions, rose 2% to . 173 on Thursday.
Indowind investors plan bond conversion
AT least three foreign currency bondholders of Indowind Energy are set to convert their bonds into shares. This follows the restructuring of bonds worth $30 million by the company. Whitecrown and QVT are among the three bondholders who are expected to convert their holdings into shares in the restructuring process, advised by Keynote Corporate Services . The restructuring will reduce the company’s debt burden. The stock, which closed at . 23.80 on Thursday, has fallen 42% since October 1. The company is not widely-tracked by analysts at broking firms.
Contributed by Harish Rao & Nishanth Vasudevan
The corruption clouds that hovered over LIC Housing Finance appear to be blowing away. Institutional investors , which stayed away from LIC Housing shares after the CBI investigation on the lender’s corporate loan cases, are buying the stock again, especially after the company’s quarterly earnings beat estimates. According to dealers, foreign institution ‘Kala Patthar’ has been buying the stock. The stock, which has surged 11% in the past three trading sessions, rose 2% to . 173 on Thursday.
Indowind investors plan bond conversion
AT least three foreign currency bondholders of Indowind Energy are set to convert their bonds into shares. This follows the restructuring of bonds worth $30 million by the company. Whitecrown and QVT are among the three bondholders who are expected to convert their holdings into shares in the restructuring process, advised by Keynote Corporate Services . The restructuring will reduce the company’s debt burden. The stock, which closed at . 23.80 on Thursday, has fallen 42% since October 1. The company is not widely-tracked by analysts at broking firms.
Contributed by Harish Rao & Nishanth Vasudevan
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