Domestic mergers and acquisitions transactions led the pack with 32 deals amounting to $5 billion.
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
Domestic deals were the flavour of the month as there were 20 such transactions worth $2.77 billion in June 2015.
India and China will be among the top five destinations for merger and acquisition activities across diverse sector over the coming year, according to a report by global consultancy Ernst & Young.
Merger and acquisition (M&A) activity involving Indian companies included 156 deals with a total disclosed deal value of $12.1 billion in the quarter.
Sebi has amended rules pertaining to delisting of equity shares of a company following an open offer as part of efforts to make merger and acquisition transactions for listed companies more convenient. Under the new framework, promoters or acquirers need to disclose their intention to delist the firm through an initial public announcement, according to a notification. If the acquirer is desirous of delisting the target company, the acquirer must propose a higher price for delisting with suitable premium over open offer price. In case the open offer is for an indirect acquisition, the open offer price and indicative price will be notified by the acquirer at the time of making the detailed public statement and in the letter of offer.
Guarantees given to overseas arms under I-T scanner.
From the beginning of 2021 Wipro has moved on to a new organisational structure. Analyst tracking the company are now wondering if CEO Thierry Delaporte's attempt to bolster Wipro's presence in the BFSI (banking, financial services and insurance) space by acquiring Capco for $1.45 billion is a step taken too early. Though many agree that Capco as a target may be good, but Wipro, which has been the most aggressive player in acquiring firms compared to its Indian players, does not have much to show in terms of performance as it continues to lag peers.
The contraction in M&A activity in India contrasts sharply with the upbeat global picture, much of it led by a reviving US economy.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
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.
Reflective of the conglomerate's ambition to turn into a consumer-driven business, most of the 33 acquisitions in the last financial year were for its digital, retail, or related verticals.
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
Reflecting the general weakness in the economy, mergers & acquisitions (M&A) involving domestic companies were down by 11.5 per cent to $31.5 billion in the year just gone-by, the lowest since 2009 when it had stood at $21.5 billion.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&M said in a regulatory filing. EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.
India's schedule at the Asian Games in Hangzhou on Monday, October 2.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
In the past month, when the Essel Group started picking up shares of the company, IVRCL's stock has risen 31 per cent, a rare feat in a market where infrastructure stocks have been suffering due to slow movement in projects and high interest burden.
According to Grant Thornton's January data, IT & ITeS tracked the highest in terms of value, with the industry investing $1.2 billion in M&A over 12 deals.
The year 2015 will be a tough year for mergers and acquisition.
US was the top nation with $395.7 billion, followed by China at $52.2 billion.
India and Russia present great opportunities to foreign companies.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Albeit muted for most part of the year, Deal Street in India has clocked M&As worth $29 billion in 2014 and expects the size to get larger with transactions worth over $40 billion in the New Year.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
Equity benchmark Sensex declined over 410 points to close below the 61,000-mark on Thursday, tracking weakness in M&M, Bajaj Finserv and Reliance Industries amid widespread selling pressure in global markets. A depreciating rupee also put pressure on domestic equities, traders said. In a subdued session, the 30-share BSE Sensex ended 419.85 points or 0.69 per cent lower at 60,613.70.
Certain provisions of the code would delay the negotiation process, increase the tax liabilities and introduce uncertainties due to the General Anti-Avoidance rules.
'Only if the Budget springs some surprises we may see a halt in the selling.'
According to Grant Thornton's latest Dealtracker report, India Inc announced M&A deals worth $992 million in October, taking the year-to-date tally to $33.6 billion.
Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 391,472 units, up 16 per cent from 336,679 units in the same month last year. Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra.
Mergers and acquisitions seem to be the flavour of the season in India this year with reports of more than two potential deals hitting headlines every day, but over 80 per cent of these do not actually fructify.
Considering the June quarter numbers have been softer, as compared to the past quarters, and the overall macro environment is yet again under a cloud, Indian IT services should seriously look at the new normal
Competition watchdog CCI on Wednesday assured industry that rivals will not be able to derail their takeover plans under the new M&A regime, which would require companies to seek the body's approval before taking up high-voltage mergers and acquisitions.
"India plans to build close to 14 nuclear power plants. We see huge opportunity here"
As per The Verge, the lawsuit was filed in Delaware's court of chancery on Tuesday, accusing Musk of hypocrisy.
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