Sensex Rises Over 100 Pts In Opening, Nifty Around 9800; Midcap Shines

Market is in a modest consolidation phase, but I do not expect a major correction, said Geoffrey Dennis, Head-Global Emerging Market Strategy at UBS in an interview to CNBC-TV18.

Overweight on India amongst our global emerging market portfolio, said Dennis.

He expects 12 percent earnings per share growth in FY18 and 15 percent EPS growth in FY19 for India.

The company in its board meeting held on August 22, has approved the allotment of 2.52 crore equity shares at a price of Rs 164 for a total consideration of Rs 413.28 crore to Reliance Industries on preferential basis through a private placement.

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