For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
The overall e-commerce opportunity in India and China is comparable, yet it's hard to see any single player in India emerging with Alibaba-like market share.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
What matters is the culture and the atmosphere of the workplace, and whether employees get treated fairly. 'It is also important for the employee to feel s/he is part of a winning team,' Credit Suisse's Mickey Doshi tells Niraj Bhatt.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Year-to-date, the rupee is the worst-performing currency in Asia, weakening 4.184 per cent against the US dollar.
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
Jefferies, IIFL, and JM Financial - none of which were in the top five last year - have now claimed the top spots in the league tables for equity capital markets (ECM) during the first nine months of calendar year 2023 (CY23), a period characterised by small- and mid-sized transactions. This shift marks a significant change, with these firms outperforming the bulge-bracket investment banks. According to data provided by Refinitiv, Jefferies leads the domestic ECM market, having handled share sales worth $2.3 billion, representing 12.4 per cent of the total volume of $18.4 billion for ECM transactions.
IndiGo heads towards $400 mln IPO as air travel booms.
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
Also, the combination of a new entrant and new technology is not necessarily good.
As the 2019 election draws near, investors focus on long-dated options.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
They believe that long-term story is intact.
Unlike last year, investors turn cautious on e-commerce sector.
The company's investments in telecom business reached 15-20% of capital employed.
Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
India accounted for a meagre 5.1 per cent of merger and acquisition (M&A) deals among emerging countries in the first nine months this year, the lowest in the BRIC (Brazil, Russia, India and China) nations.
They own 27.5% in top 75 listed firms; investments bounce back after falling two straight quarters
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Understanding InvITs properly will enable investors to make an informed decision, says V K Bansal.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
The 'Indian story' will be badly damaged if the Modi government is not re-elected, argues investment banker Christopher Wood.
Fiscal consolidation is keenly awaited.
Analysts caution a non-BJP government is not an impossible scenario. In case of a Modi-led coalition, they advise investors to focus on discretionary consumption, select private banks and financials, RIL, housing, and IT.
PB Fintech, the parent of Policybazaar and Paisabazaar, has set a price band of Rs 940-950 apiece for its initial public offering (IPO), which will open on November 1 and close on November 3. The company may be valued at around Rs 44,000 crore, and looking to raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
The acquisitions were made in areas which are closely related to Reliance's key businesses - telecom, internet, retail, digital, media, education, digital, chemicals and energy.
This move to make it easier for funds to avail of tax exemptions.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The first private sector MF, Kothari Pioneer was registered in July 1993.
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