An Ernst & Young study to measure confidence in the global economy said over half of the Indian companies surveyed were optimistic about making acquisitions in the next 12 months due to the improving business climate.
The deal, struck by group firm Aamby Valley for 470 million pounds (about Rs 3,300 crore), makes it one of the largest acquisitions in the hospitality space by an Indian company.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
Firm evaluating options, could spend over $400 million.
The biggest deal was clinched during April-October 2010, raked in a whopping Rs 39,656 crore, paling the Rs 11546.6 crore deal struck in the year ago period.
Merger & acquisition and private equity deals struck by Indian Inc in the first half of the current year nosedived by more than half in terms of volume to 216 deals and by 66 per cent value-wise at $7.814 billion over the same period last year.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
Pravin Rao says firms with revenue of $600-700 millon will be preferred.
Analysts remain selective on cement stocks amid the likely government's capex push ahead of the scheduled general elections in May 2024. While UBS has initiated coverage on the Indian cement sector with an anti-consensus negative view and suggests investors sell select cement stocks on a rally, those at Nomura remain selectively bullish on the sector and prefer companies with large brownfield optionality and multi-region presence. In the near-term, UBS expects strong earnings of cement companies in the next two quarters to be driven by robust demand and margin tailwinds, but suggests any sharp uptick in stock prices could offer a good opportunity for booking profits in the related counters.
One reason Japan is betting highly on Indian pharma is that these companies have strong cash flows, low leverage and high debt capacity for medium to large sized acquisitions.
Shedding its opposition, the Bar Council of India (BCI) on Wednesday took a significant decision to permit foreign lawyers and law firms to practise in areas such as foreign law, international legal issues and arbitration matters, saying that the legal fraternity here may be left behind if it sleeps over the matter.
Mergers & acquisitions started off on a strong footing, hitting a four-year high at $30.3 billion in the first quarter of 2022, bucking the global trend where deal-making fell sharply, says a report. Deal activity grew by 5.6 per cent in value terms in January-March 2022 compared to the first quarter of 2021, making it the highest first-quarter period since 2018 when it was $31.1 billion. In volume terms, the M&A activity grew 29.6 per cent in the first quarter of 2022, making it the best-ever quarterly number, according to the M&A numbers collated by Refinitiv, an LSEG business, which is among the world's largest providers of financial markets data and infrastructure. M&As involving domestic companies stood at $23.7 billion, down 8.3 per cent on year.
Given the broken balance sheet and the limited fiscal room, the government has to kick off investment: Vikas Khemani & Stephen Gallagher.
Private Equity investment in Q1, 2015 witnessed a year- on-year jump of 30 per cent to $2.6 billion.
No respite in sight as not many big deals, initial public offerings in pipeline.
According to the CEO of an Indian group with presence in the telecom segment and two merchant bankers, the Mexico-headquartered telco's bankers have been sounded out for preliminary discussions with leading Indian telecom companies for a strategic tie-up.
The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country. The World Investment Report 2020 by UNCTAD said that India was the 9th largest recipient of FDI in 2019, with 51 billion dollars of inflows during the year, an increase from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
The acquisition of ZipDial however has proven that even a proven business model could be an attraction point.
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Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers.
Sikka has influenced the company to break away from the old mould in more ways than one.
There is no substitute for hard work. I think the smartest people in life don't get ahead. It's the hard working people who do, says Rishad.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
Experts say despite it being a global deal, the transaction will have to undergo CCI scrutiny because of the scale of operations.
Spectrum is critical for Tata Tele because in some circles, Rajasthan for example, it has spectrum only in 60 per cent of the geography, while allocation for the rest has yet to come from the government.
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
His presence matters more than the money he brings.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
Volunteers have been asked to provide details of their core competencies for future projects, says Mayank Mishra
Flipkart's current valuation is an estimated $12 billion.
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
This was good enough for Fernandes to hire Chandilya to lead his India business.
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