Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
It is the fundamentals of companies that will drive stock performance.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
The 30-share Sensex jumped 729 points to end at 28,076 and the 50-share Nifty soared 217 points to end at 8,494.
Firms have to adhere to strict compliance requirements mandated by global parents
Unprecedented pay and perks like free healthcare for in-laws helping the likes of Flipkart, Snapdeal tap talent
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
You may be popular initially because of politics and ideology but if the economy slows down, you will be losing your popularity: Nouriel Roubini.
In last few years, a number of global players have exited the Indian mutual fund business.
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
A gradual weakening of the rupee, however, may add to inflationary pressures.
State Bank of India partnered GE Capital in 1998 for its credit card business.
The outlook is improving and that mostly reflects the fact that the new government has pledged to prioritise economic reforms.
Oil prices dipped on Wednesday as the market prepared for a gradual increase of Iranian exports into an already oversupplied market from 2016.
India only has 3.5 million workers undergoing skills courses a year, compared with 90 million in China
Today, it holds $131 billion in assets under management.
The $140-billion Indian IT market is facing challenges on multiple fronts including stricter visa regime in key markets and shortage of skilled manpower for new technology areas like data science.
Bharti Global is planning to put up more satellites and has set a stiff deadline to launch commercial Internet services by October in the UK, Alaska, northern Russia and northern Europe.
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The rupee resumed lower at 61.15 per dollar as against the last closing level of 60.77 per dollar yesterday at the Interbank Foreign Exchange (Forex) Market and dropped further to 61.44 per dollar before quoting at 61.40 per dollar at 1045 hours.
'The prime minister's announcement of a nation-wide shutdown was eloquent, but should have been more clearly phrased to avoid police overreach.' 'Migrant labour should have been allowed adequate notice and transport options to get home,' notes Rahul Jacob.
Presenting tips and case studies about innovation, management, leadership, growth, technology and investment.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The Nifty and Sensex traded close to their respective all-time highs.
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
The Consumer Price Index hit the lowest in six months in March at 4.83 per cent.
Demonetisation impact, earnings growth, central bank policies will get attention.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
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.
With a rise of around 30 per cent in the benchmark index S&P BSE Sensex, 2014 has been the best year for Indian equity markets since 2009, when the benchmark index surged 81 per cent.
Gains in auto shares helped offset losses in select index heavyweights led by Infosys.
Instead of being carried away by Friday's historic election verdict, savvy investors were seen taking money off the table, after the benchmark Sensex rallied about 1,500 points in intra-day trade.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
In the quarter ended September, the company's employee costs rose to an all-time high of Rs 1,580 crore (Rs 15.8 billion), even as company's margins took a beating.
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.
The National Stock Exchange's proposed IPO to raise Rs 10,000 crore this year is expected to see the largest ever PE exit, of around Rs 5,000 crore.
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