Heard on the street
The shares of local aviation companies rose on expectations that the newly-elected UPA government would allow foreign airlines to buy stakes in Indian carriers.
By ET Bureau |
Airline stocks take off on foreign buy hopes
The shares of local aviation companies rose on expectations that the newly-elected UPA government would allow foreign airlines to buy stakes in Indian carriers.
Speculation that Congress leader Jyotiraditya Scindia was ahead in the race to be the next aviation minister also boosted sentiment in the sector.
Analysts said Scindia, who is a business graduate from Stanford and has worked with leading investment banks, would push for policies in the sector that are pro-market, including stake sales to foreign airlines.
Two other names doing the rounds were Trinamool Congress��� Dinesh Trivedi and senior DMK leader Dayanidhi Maran. Kingfisher Airlines rose 27% to Rs 56.5, Jet Airways gained 14% to Rs 278 and Spice Jet stock shot up by over 17% to Rs 18.6.
Lady luck smiles on broking co stocks
The shares of key broking firms have been among the top gainers over the past couple of sessions on expectations that the recent rebound in the stock market is here to stay.
Brokers believe that trading volumes are likely to improve hereon, in addition to other activities related to the stock market including investment banking and mutual fund distribution.
The logic being offered for the recent outperformance of brokerage shares is that during the downfall too, these shares had fallen sharper than the broader indices.
Contributed by Mithun Roy & Jigar Pathak
The shares of local aviation companies rose on expectations that the newly-elected UPA government would allow foreign airlines to buy stakes in Indian carriers.
Speculation that Congress leader Jyotiraditya Scindia was ahead in the race to be the next aviation minister also boosted sentiment in the sector.
Analysts said Scindia, who is a business graduate from Stanford and has worked with leading investment banks, would push for policies in the sector that are pro-market, including stake sales to foreign airlines.
Two other names doing the rounds were Trinamool Congress��� Dinesh Trivedi and senior DMK leader Dayanidhi Maran. Kingfisher Airlines rose 27% to Rs 56.5, Jet Airways gained 14% to Rs 278 and Spice Jet stock shot up by over 17% to Rs 18.6.
Lady luck smiles on broking co stocks
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The shares of key broking firms have been among the top gainers over the past couple of sessions on expectations that the recent rebound in the stock market is here to stay.
Brokers believe that trading volumes are likely to improve hereon, in addition to other activities related to the stock market including investment banking and mutual fund distribution.
The logic being offered for the recent outperformance of brokerage shares is that during the downfall too, these shares had fallen sharper than the broader indices.
Contributed by Mithun Roy & Jigar Pathak
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