The first leg of the 35-day festive period, which ended with Dussehra, failed to bring any cheer for auto companies. While makers of passenger vehicles struggled to meet demand due to the persistent shortage of semiconductors, a recovery in demand remained elusive for two-wheeler manufacturers despite offers and schemes. The overall season, which ends two days after Diwali, is unlikely to bring any turnaround in either the supply or the demand scenario, said dealers and officials at auto companies.
The total value of M&As involving Indian companies surged nearly 63 per cent to $7.8 billion in the first three months of 2016, primarily spurred by big-ticket divestment transactions.
ICICI Bank was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by HDFC, Axis Bank, Sun Pharma, NTPC and M&M. NSE Nifty surged 119.75 points to 15,812.35.
At a time when merger and acquisition (M&A) activity is still recovering, companies are finding solace in private equity (PE) funds for acquisitions. And, PE funds seem keen to participate in such deals.
'On an average we have been getting four to five such proposals a month, but we aren't pursuing them as they don't tick the boxes.'
Saurabh Agrawal, managing director and head, investment banking, has reason to feel pleased with his team at DSP Merrill Lynch -- his firm tops the M&A league table and should secure itself a reasonably good ranking in the debt and equity fund-raising sweepstakes by the time the year draws to a close.
It has been nearly four months since Sidharth Punshi, 34, former executive director at Goldman Sachs, joined Jefferies International, a global investment bank and institutional securities firm, as the managing director and country head for India. In a recent interview, Punshi told Business Standard that despite the tight liquidity scenario and a challenging global situation, Indian companies continue to chase merger and acquisition deals abroad.
Markets continued to fall on Monday, with the Sensex declining 94 points as investors remained cautious amid unabated selling by foreign funds and elevated crude oil prices ahead of the RBI's policy decision later this week. The 30-share BSE Sensex declined 93.91 points or 0.17 per cent to end at 55,675.32. During the day, it tanked 473.49 points or 0.84 per cent to 55,295.74.
Global trends, the last batch of Q2 earnings and domestic macroeconomic data will dictate terms in the equity market, which had an extended weekend last week, analysts said. "FIIs' behaviour along with inflation numbers from US and China will remain key factors for this week. After an extended weekend, Indian markets are likely to start a fresh week with a positive note on the global backdrop. "However, there is a risk of selling pressure at higher levels as we are underperforming the global peers where the near-term texture has changed to 'sell on rise' from 'buy on dip'," Santosh Meena, head (research) at Swastika Investmart Ltd, said.
Singh's comments that the nuclear option should not be resorted to is a message to Russia as well as Western powers backing Ukraine, people familiar with the matter said. Ukraine does not have any nuclear arsenal.
Bajaj Finserv was the top loser in the Sensex pack, shedding around 2 per cent, followed by HDFC, M&M, Bharti Airtel, UltraTech Cement and Kotak Bank. NSE Nifty fell 77.95 points to 15,030.15.
Kolkata-based LSI Financial Services has obtained Securities and Exchange Board of India (Sebi) licence for merchant banking operations.
The current turbulence in world financial markets notwithstanding, there exists a positive attitude among private business owners in emerging economies, particularly in India and China, toward mergers and acquisitions, says a global survey.
The year 2009 was a difficult year for Indian merger and acquisition deals.
Gurnani succeeds A S Murthy who was appointed by the government board after the multi-crore rupee scam broke out in then Satyam Computer Services. Gurnani has been heading the global operations of Tech Mahindra.
The nature of the entity you choose for your business, how you structure its legal form, how conducive you make it to receive funding, compliance with statutes from the outset, are all vital parameters that a good lawyer can lend you his experience with.
Zostel could get upwards of $600 million if arbitration goes through.
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
Investment bankers who could have earned up to 48 million dollars in fees, if the proposed deal between Indian telecom major Bharti Airtel and South Africa's MTN had materialised.
Drinks perfect for a hot summer day.
Maruti was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank and HDFC Bank. On the other hand, TCS was the top loser on the Sensex, shedding over 6 per cent.
Equity benchmarks declined on Tuesday after a three-day rally, with the Sensex falling 359.33 points amid selling in index majors HDFC, Reliance Industries and Infosys. Investors were cautious ahead of release of GDP data, while a jump in crude oil prices also weighed on market sentiment, traders said. The 30-share BSE Sensex went lower by 359.33 points or 0.64 per cent to settle at 55,566.41.
Deepening the funding crisis that startups have been witnessing for some time, the October inflows plunged 75 per cent on-year to $3.3 billion across 75 deals, including six large deals worth $2.2 billion, according to an industry report. Exits touched half of the inflows at $1.6 billion across 15 deals in the reporting months, a significant improvement over the previous month which saw just $653 million worth of exits across 24 deals, but 69 per cent lower on-year basis, according to the numbers collated by EY for the Indian Private Equity & Venture Capital Association, the umbrella body the PEs and VCs. However, the report said, on a month-on-month basis, the inflows continued to grow, clipping at 60 per cent over the September numbers.
HDFC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Bajaj Finserv, M&M, NTPC, Bharti Airtel, UltraTech Cement and ONGC. NSE Nifty rose 98.35 points to 14,823.15.
Mahindra & Mahindra (M&M) will deliver 1,000 units of its all-new Thar SUV during Diwali festive period, the company said on Friday. The latest version of the iconic SUV was launched on October 2, in two trims -- AX and LX -- with both petrol and diesel powertrain option, and is priced between Rs 9.8 lakh and Rs 13.75 lakh
IT solutions provider HCL Technologies has acquired CapitalStream, a US-based lending automation solutions provider, for Rs 158 crore (Rs 1.58 billion) in an all-cash deal.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. NSE Nifty tumbled 154.25 points to 14,696.50.
FCA has alleged that the Roxor, which M&M imports in the US from India as knocked-down kits, was "a nearly identical copy of the iconic Jeep design", adding that the product was modelled after the original Willys Jeep.
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M. On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.
An interview with BMR partners and media specialists Nitin Atroley and Vivek Gupta
HDFC Bank, Bharti Airtel, Axis Bank, Nestle India, ONGC, L&T and SBI and were among the laggards in the Sensex pack, shedding over 1 per cent. On the other hand, Bajaj Finserv, M&M, Bajaj Finance, Titan and TCS were among the gainers.
M&M was the top gainer in the Sensex pack, rallying around 8 per cent, followed by Bajaj Finserv, Bajaj Finance, Maruti, Axis Bank, ONGC and HDFC Bank. NSE Nifty surged 194 points to 14,504.80.
Reliance Industries was the top gainer in the Sensex pack, rising over 1 per cent, followed by M&M, HCL Tech, Axis Bank, ICICI Bank and HUL. On the other hand, Bharti Airtel, Maruti, SBI, PowerGrid, NTPC and Tata Steel were among the laggards.
GTL has set up a special purpose vehicle -- GTL M&A Services -- through which it will provide services like engineering, operation and management, designing and building of network infrastructure. The company would provide remote network managed services from India.
M&M led the gainers' pack, spurting 2.76 per cent, followed by ITC, Kotak Bank, L&T, SBI, Bajaj Auto and Nestle India.
Making strong inroads in the global acquisition arena, Indian companies have won many big ticket deals and acquisitions.
The failed deals could be the much-needed wake-up call for the M&A space.
Benchmark BSE Sensex tumbled 566 points to settle below the 60,000-level on Wednesday, dragged down by heavy selling in banking and IT stocks amid weak global trends.
M&M was the top loser in the Sensex pack, shedding around 4 per cent, followed by SBI, ICICI Bank, Axis Bank, IndusInd Bank, ITC and NTPC. NSE Nifty declined 265.35 points to 14,549.40.
Reliance Industries was the top gainer in the Sensex pack, soaring nearly 6 per cent, followed by M&M, HDFC twins, Kotak Bank, ITC and Bharti Airtel.
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