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Property tycoon Ong Beng Seng, the managing director of Hotel Properties Limited (HPL), has been issued a notice of arrest and asked by the Corrupt Practices Investigation Bureau (CPIB) to provide information in relation to his interactions with Transport Minister S Iswaran.
Property tycoon Ong Beng Seng, the managing director of Hotel Properties Limited (HPL), has been issued a notice of arrest and asked by the Corrupt Practices Investigation Bureau (CPIB) to provide information in relation to his interactions with Transport Minister S Iswaran.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
If riding a bucking bronco is your idea of fun, you’re going to love what the stock market has in store. Consider this past week’s ride a preview.The week’s action didn’t look like much, if you didn’t know better. The Dow Jones Industrial Average rose 213.12 points or 0.6%, while the S&P 500 advanced 0.5%, and the Nasdaq Composite ended little changed.
