18 Lehman-sensitive firms to watch out for | business | Hindustan Times
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18 Lehman-sensitive firms to watch out for

What’s common to Spice Communications, Edelweiss Capital and Development Credit Bank? Answer: the Lehman factor.

business Updated: Sep 15, 2008 21:52 IST
HT Correspondent

What’s common to Spice Communications, Edelweiss Capital and Development Credit Bank? Answer: the Lehman factor. Through its various arms, Lehman holds more than 1 per cent equity stake in 18 listed Indian companies. The total value of investments in these 18 companies added up to Rs 548 crore, as on Monday.

The prices of most of these companies have fallen significantly during the day’s trading. Prithvi Information Solution, in which Lehman Brothers Asia held 2.6 per cent stake as on June 2008, lost 16.9 per cent today. Anant Raj Industries, in which Lehman held 1.8 per cent, lost 12.8 per cent.

Market players are of the view that if no company comes to buy Lehman then Lehman will have to sell its stake in these companies in the open market. If that happens the shares prices of these 18 companies (see table) will remain under pressure.