Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
Find out what Steve Jobs, Tim Cook and Deep Kalra did when they received angry, negative feedback from customers.
This year, India's Prime Minister Narendra Modi, Bollywood actor Ayushmann Khurrana, the 'dadi from Shaheen Bhagh' Bilkis, Alphabet and Google CEO Sundar Pichai and Professor Ravindra Gupta are among TIME's 100 most influential people of 2020.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
An elbow injury forced Djokovic to retire against Czech Tomas Berdych in the quarter-finals of Wimbledon in 2017. After that came a series of early tournament exits and, finally, surgery.
Increased selling of the dollar by banks and exporters amid sustained foreign capital inflows supported the rupee.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
Though the outcome of the general elections will offer a short-term boost to the market, a sustained rally will be determined by the economic data, according to a JP Morgan Asset Management report.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
A dip in 'dream job' applications could also mean that students are bagging their desired offers in the first go itself.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
RIL said it has priced its 144A/Reg S bonds to yield 240 basis points over US Treasuries Note at a 4.125 per cent coupon.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
A strengthening dollar overseas also kept the rupee under pressure amid demand from importers. Goldman Sachs followed JP Morgan, HSBC and Nomura in cutting India's economic growth forecast and also said it expects the rupee to touch 72 against the dollar in the next six months.
In first half of year, firms raise more than banks on low US treasury rates.
China's post COVID-19 pandemic economic rebound showed signs of slowdown as the economy grew at 7.9 per cent in the second quarter compared to a record 18.3 per cent in Q1, while the GDP expanded 12.7 per cent year on year in the first half amid the continued global spread of the coronavirus and unbalanced domestic recovery. In the second quarter, the GDP of the second largest economy in the world grew 7.9 per cent year on year, the data released by the National Bureau of Statistics, (NBS) on Thursday showed. On a quarterly basis, the economy expanded 1.3 per cent in Q2.
The company raised $145 million (about Rs 1,000 crore) recently from investors. The portal, which has 15 million unique customers and 32 million visits per month, is already a market leader. Sohini Das reports from Ahmedabad.
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Bank of America Merrill Lynch and JP Morgan are bankers for the bonds
Move aimed at giving more headroom to foreign investors.
Over the past 25 years the MF industry has come a long way. Geographic reach has increased, many more customers have been added, more channels have been opened up and the product basket is full.
2022 is shaping up as the year brimming with job opportunities for people who possess relevant skillsets. Therefore, it is crucial for fresh graduates and young professionals to enroll in relevant certification courses to add more feathers to their introductory portfolio
Driven by a historic IPO boom that saw 63 issuers, led by new-age tech companies, garnering a whopping Rs 1.2 lakh crore ($16.6 billion) from the primary market, investment bankers laughed their way to the bank collecting $1.1 billion in fees in the year just gone by, making it the highest-ever advisory fees collected, says an industry report. At $16.6 billion, the initial public offers (IPO) set a lifetime record in 2021, bettering the previous record of $10.8 billion in 2017 by a wider margin. While the number of IPOs more than doubled from a year ago to 63, the proceeds were more than four-times the amount raised from the same period previous year and the momentum is likely to continue as more IPOs are anticipated next year, with mother of all issues, LIC issue, expected to boost proceeds next year much higher, it said.
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Most positives seem to be factored into current valuations.
The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
Though the sum was nowhere close to the big-ticket monthly purchases seen during the 2004-2008 bull run, it is significant, as it confirms the reversal of a selling spree that began in September 2013.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India's consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) - its telecom venture - will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.
Cairn tax demand has not reduced investors' enthusiasm: Jaitley
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
Companies are ranked by total revenues.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
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