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Friday, February 6, 2009

L&T to wait for decisions by regulator, Satyam

Larsen & Toubro has not raised its holding in Satyam Computer beyond 12 percent and will wait for decisions by the market regulator and the board of the fraud-hit outsourcer, a top Larsen official said .

"We have not decided on anything. All will be determined by what SEBI and the board decide," Chief Financial Officer Y.M. Deosthalee told reporters, referring to the Securities and Exchange Board of India.

Larsen had last month trebled its holding in the outsourcer, which is at the centre of the country's biggest corporate scandal, to 12 percent.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 16
17:45 Housing Starts s.a (YoY) 1 279.5K 248.0K 278.6K
18:00 NY Empire State Manufacturing Index 2 -16.0 -5.5 -9.2
21:00 6-Month Bill Auction 1 4.155% 4.150%
21:00 3-Month Bill Auction 1 4.24% 4.25%
22:30 20-Year Bond Auction 1 4.942% 5.047%
Tuesday, Jun 17
02:30 Westpac Consumer Survey 2 89.2
04:15 Food Price Index (MoM) 1 0.8%
18:00 Retail Sales ex Autos (MoM) 2 0.1% 0.1%
18:00 Retail Sales (MoM) 3 -0.7% 0.1%
18:00 Retail Sales (YoY) 1 5.2%
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