Vedika Bhandarkar, managing director & head of investment banking, recounts how even in a supposedly bad year, the bank raised about Rs 1,00,000 crore (Rs 1,000 billion).
The annual report also mentions Tata Sons is obligated to buy the stake at the higher end of fair value or 50 per cent of the subscription purchase price.
Last week, scientists working with the Institute of Genomics and Integrative Biology (IGIB) in New Delhi decoded the genome of a 52-year-old man from Jharkhand after nine weeks of study -- a first in the country. The feat has helped India join a select club of countries -- the US, UK, Canada, Korea and China.
M&M is preparing a plan for carbon 'footprinting' of all group companies. That includes carbon emissions made even during air travel by employees.
Aluminium producers are pleasantly surprised, as the price of the base metal reached a 14-month high of $2,188 per tonne this week despite the absence of any surge in consumption.
The share prices of power transmission and distribution company Areva T&D rose 2.8 per cent on the Bombay Stock Exchange on Tuesday in anticipation of a possible open offer. A combine of Alstom and Schneider Electric have bought the entire stake in it of its majority holder, French nuclear major Areva.
India saw one of the worst terrorist attacks in November last year, when Mumbai was under siege for four days. Little under a year later, Indians perceive rising food prices as a bigger threat than terrorism.
Till a few months ago, hiring was a strict no-no for investment banks. On the contrary, they were scaling back staffing plans in India given the dearth of merger and acquisition activity and stagnant capital markets.That is changing rapidly with a rising number of deals fuelled by strong growth in the markets and an improving economic environment.
Last month saw 30 companies filing their draft red herring prospectuses with the market regulator for initial public offers , a sharp increase from six in August and three in July this year. The Securities and Exchange Board of India received eight filings in September last year, the month the Lehman Brothers meltdown brought the world economy to its knees.
M&As are back on the radar for Indian companies, but with two vital changes. First, the average size of the deals are much smaller compared to the earlier years; and second, overseas acquisitions have taken a backseat.
Promoters Narendra Patni and his younger brothers Gajendra and Ashok hold equal stakes totalling 48.3 per cent in India's sixth largest software exporter.
European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
The central government's decision to continue controlling supply of the swine flu drug, oseltamivir, will help the drug innovator, Swiss multinational Hoffmann-La Roche, and its Indian licencee, Hetero Drugs, maintain their effective monopoly in the country, even as the drug lacks patent protection in India, fear domestic industry circles.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
V N Khare and S P Bharucha, both once Chief Justices of India, have been appointed to the arbitration panel to resolve the issue of sale of the government's residual 49 per cent stake in Bharat Aluminium Company to Sterlite Industries.
Bangalore-based Stempeutics Research received clearance from the Drug Controller General of India to conduct human clinical trials to develop drugs using stem cells. With this, India became the first country after the US to allow human clinical trials to develop drugs by using dormant cells in the body that have natural regeneration capabilities. Once injected into a patient, the stem cells can be controlled with a simple magnet to direct them to the damaged area and cure
In another development, leading Japanese drug maker Takeda Pharmaceutical sued Ahmedabad-based Torrent Pharma in the US for infringing seven patents covering its flagship diabetes drug, Actos. Oracea (doxycycline) is the only US Food and Drug Administration approved oral drug to treat rosacea -- a skin disorder in the face with inflammation, skin redness and spider veins.
Novartis's famed cancer drug, Glivec, will not get patent protection in India. The apex body on patent and trademark disputes, the Intellectual Property Appellate Board (IPAB), has ruled that the drug "lacks innovation" and the high price tag of Rs 120,000 per month per patient would be too high for the common man.
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