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Markets end flat
The indices closed flat for the third consecutive session. In line with its Asian peers, the Sensex was down nearly 200 points in opening trades. But a recovery in the Japanese markets engineered a turnaround on Dalal Street. The Sensex finally ended at 16,356, lower by one point, and the Nifty closed at 4,906, up 24 points. Consumer durables, IT and auto sectors traded firm, while FMCG and banking were sluggish.

Hearing in RIL-RNRL dispute may be deferred to Sept 4
The Supreme Court is likely to defer the gas dispute between Mukesh Ambani group firm RIL and Anil Ambani group company RNRL to September 4, as the chief justice may lead a Constitutional Bench the same day.

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Sweet sugar?
While sugar prices are likely to stay at high levels, stock valuations reflect most of the positives.
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Reliance Power, RCom restructure promoter holdings

Anil Ambani group firms — Reliance Communications (RCom) and Reliance Power — today restructured their respective promoter holdings through transfer of shares among group companies. In a disclosure to the Bombay Stock Exchange, RCom said one of its promoters AAA Communication has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries and ADA Enterprises and Venture. Rupee gains 14 paise at 46.23/$ in early trade Asian markets erase partial gains Banks not ready to withdraw prepayment penalty on foreclosure Pursuant to the share transfer between the promoters, AAA Project Ventures now holds over 954,498,000 shares or 39.82 per cent stake in Reliance Power. As of March quarter, the entire promoter group held 84.78 per cent in Reliance Power and 67.34 per cent stake in RCom. "The aggregate shareholding of the acquirers and the PACs, before and after the above transfer remains unchanged," the disclosure said. Shares of Reliance Power closed 0.63 per cent up at Rs 174.55 and RCom ended down 1.76 per cent at Rs 306.75 on the Bombay Stock Exchange.


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