Indian equities are headed lower near term because of the nervousness in global markets as well subdued corporate earnings growth, says Andrew Holland, CEO, Ambit Investment Advisors.

In an interview with CNBC-TV18, Holland says he expects global equities to correct 5-10 percent in the short term and sees upheaval in currency sharemarket because of the conflicting monetary policies being followed by central banks of the major economies.

The Rs 470 crore-public issue of Adlabs Entertainment has opened for subscription today. The company, which runs an amusement park – Adlabs Imagica, is going to issue 203.26 lakh equity shares at a price band of Rs 221-230 apiece.

The issue, which will close on March 12, consists of a fresh issue of 183.26 lakh shares and an offer for sale of 20 lakh shares by Thrill Park. Adlabs, promoted by Manmohan Shetty (the former promoter of Adlabs Films) and Thrill Park, intends to utilise the net proceeds (fresh issue money) for partial repayment or pre-payment of the consortium loan and general corporate purposes.Consortium loan stood at Rs 1,100 crore and the company will use Rs 330 crore for repayment of this loan.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-below-8750-hdfc-tcs-hindalco-slip-1-2_1324646.html