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Monday, March 3, 2008

Is Wadia palnning to take real estate biz public..
At Nusli Wadia's Bombay Dyeing & Mabufacturing Company, there business from its core. Textiles, DMT(polyester material) and real estate has emerged as the company's breadwinner even as the fortunes of its textile and DMT business fluctuation. Speculation in the market now is that the company, in an attempt to unlock value, will spin off the real estate business into a separate entity. A thought on the minds of the managament, sources added, is to then take this entity public. They argue that this will help the company bring more of its freehold land into real estate development.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.2% 5.4% 5.5% Revised from 5.6%
15:30 NFIB Business Optimism Index 1 98.8 95.9 95.8
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.94% 3.93%
22:30 3-Year Note Auction 1 3.972% 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
04:15 Visitor Arrivals (YoY) 1 -8.4%
15:00 10-y Bond Auction 1 4.673%
16:30 MBA Mortgage Applications 1 -3.9%
18:00 Building Permits (MoM) 1 2.2% -4.1%
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