The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
Head of Deutsche Equities Keshav Sanghi states that medium-term foreign investors are still positive on India.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
The rupee will be a key determinant for stock markets.
With a market share of 16.6 per cent in mergers and acquisitions and 14.2 per cent in fund raising through the equity route, the investment banking arm of the German financial behemoth has become the numero uno investment bank in the country.
Analysts agree China, Greece and US Fed developments need careful monitoring but India should gain, over time, from relative rise of the dollar and fall in commodity prices.
Adani Group on Friday launched its Rs 31,000-crore open offer to acquire 26 per cent additional stake from the public shareholders of Swiss firm Holcim's two Indian listed entities ACC Ltd and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for $10.5 billion. Markets regulator Sebi granted approval for the open offer last week.
Further outperformance hinges on pickup in industrial activity, buying by local investors.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Notwithstanding the stock market in 2014 logging one of the worst New Year starts since 1996, the year heralds the beginning of a bull cycle in India and the Sensex may scale the 24,000 peak by December, Deutsche Equities said.
The Bombay Stock Exchange is in the process of listing Sensex futures on Europe's largest stock exchange by market value, the Frankfurt-based Deutsche Borse AG.
The brokerage, which previously had a target of 31,000, cited global growth concerns for revision in the target.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
Deutsche Asset Management India Ltd is targeting to more than double its mutual fund corpus to $1 billion by the end of 2004, even as it was exploring prospects to set up a private equity fund for investment in the Indian infrastructure project.
The derivatives expiry on Thursday is also expected to add to the volatility.
UBS reduced its Nifty target to 8,600 by December from 9,200.
While analysts predicted the Sensex to cross 30,000 in 2016, the index currently stands 12% lower at 26,400.
The company will finalise the final pricing for allotment of shares later.
Both Sensex and the rupee posted slight gains on Monday but Brexit concerns lingered.
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The government on Tuesday announced a host of measures to tame inflation, which had soared to a five-month high of 6.01 per cent in May.
The government should convert Vodafone Idea's (Vi) debt into equity to avoid a duopoly in the telecom sector, Deutsche Bank Research said in its report on Monday. This, the bank suggested, would be the only viable solution in the backdrop of the Supreme Court dismissing the telecom company's application for recomputation of adjusted gross revenue (AGR) dues.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
They have put in $14 billion so far in 2014 but this could get slower if the US Fed raises rates; however, there are expectations on compensatory flows.
Infosys co-founders N R Narayana Murthy and Nandan Nilekani along with their family members on Monday sold shares worth Rs 6,484 crore in the country's second largest software services firm.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
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The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
Buoyed by the success of secondary market, IPO market set to see high action
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Volatility in local share markets have hit India Inc's equity fund-raising plans, with the total deal value this year set to fall below the level seen in 2008.
Forget Starbucks coming into India. Witness the expansion of Caf Coffee Day, which is set to mushroom across the country.
The government is selling over 41.22 crore shares or 5 per cent stake in NTPC.
Global markets could correct 5-10 per cent. If that happens, Indian markets will correct about 10 per cent
...followed by financial services, IT, and sales and marketing.
India gains at the expense of Russia and Brazil
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
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