The market could fall 10 percent if Brexit does take place, feels Andrew Holland of Ambit Investment Advisors and the impact will be seen not only on markets but also global trades.
Leaving Brexit aside, he feels the Indian market could reclaim previous highs in the medium-term. Earnings momentum has already starting to show through and a normal monsoon could further set the ball rolling in terms of operational gearing and capacity utilisations. Passage of Goods and Services Tax (GST) Bill in the next session of Parliament and implementation of Bankruptcy Laws, albeit at a later date, will also provide some momentum,
HDFC Life's IPO plan put on hold post-merger deal with Max
HDFC Standard Life has put on hold its IPO plan after announcing takeover of Max Financial Services , a listed company, and Max Life Insurance. HDFC Standard Life today proposed to merge Max Life and Max Financial with itself.
As per the deal, there would be two schemes of amalgamation. First, Max Life will merge into Max Financial and then the merged entity would amalgamate into HDFC Life.