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.
Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Mumbai-based Pratibha Shipping Company, which owns six tanker vessels, has secured a contract from Mangalore Refinery & Petrochemicals, a subsidiary of ONGC, for transporting fuel to Mauritius for three years.
Pharma major Lupin and mortgage lender HDFC were the top losers.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
No respite in sight as not many big deals, initial public offerings in pipeline.
Manu Kumar Jain, vice-president, Xiaomi, and managing director, Xiaomi India, shares his thoughts with Arnab Dutta on how the firm has put India on the forefront.
'Tehran,' Foreign Minister Zarif said, 'had expected the Modi government to be "more resilient" in the face of Washington's bullying,' notes Ambassador M K Bhadrakumar.
Mutual funds were predominantly buyers in the banking, engineering, power, IT, and media space in February
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
There has been a stellar rise for the Indian markets this far in calendar year 2021 (CY21) with the S&P BSE Sensex surging over 19 per cent. The gain in mid-and small-cap indices on the BSE has been sharper with both these indexes surging around 38 per cent and 54 per cent, respectively during this period. Rampant spread of Covid pandemic's Delta variant and the ensuing lockdown and mobility curbs across India, rising prices key commodities, including crude oil and its impact on inflation, possibility of tightening of policy stance by major global central banks, especially the US Federal Reserve (US Fed) have been some of the key headwinds that the markets successfully negotiated during this period.
This weakness is likely to continue in the near-term.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Waves of foreign portfolio investments worth over Rs 51,000 crore splashed into the Indian market in 2021 as overseas investors turned net buyers of domestic securities for the third straight year while excess global liquidity and other factors steered the ebb and flow of their investing ways. With the global financial system still flush with liquidity, emerging market assets, especially equities, might well remain the preferred investment avenue for many more months to come, experts opined. As the equities sizzled during most of 2021, that also saw economy slowly coming back into the recovery path, Foreign Portfolio Investors (FPIs) turned net buyers but their investment is much less compared to net inflows of Rs 1.03 lakh crore in 2020.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
From the pandemic shocks to state polls to global trends, a raft of sentiment drivers are expected to steer the Indian stock market in 2022 after a historic year of massive investor returns and milestones. The Union Budget, which will be closely watched for further reform moves, and quarterly earnings of corporates will be among the developments on investors' radar amid global central banks moving towards tighter interest regime in the wake of inflationary pressures. The year 2021 was rewarding in a big way for equity investors.
ONGC on Friday said it was not against the government's move to dilute its 5% stake in the public sector undertaking through an IPO or by diluting the cross holding of shares between ONGC, Indian Oil Corporation and Gail.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
The broader markets also ended lower in line with the benchmark indices
The stock markets need not be an enigma - use resources at your disposal
A'Market valuation is another concern.'
'India is trading at steep valuations and there have been a number of IPOs, especially in the insurance sector, that have had an impact on secondary market liquidity.'
Mutual funds bought FMCG, construction, auto, and IT stocks in November.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
The divestment proceeds could surpass the budget target this year due to the upcoming initial public offerings of ONGC and GAIL, though the current bull phase in stock markets did not fuel the primary markets in 2003, NCAER said on Wednesday.
The trade-war between the US and China is prompting investors to flee from risky assets, such as equities, to safe-haven bets, such as gold and treasuries
The broader markets are, however, outperforming the larger peer.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
'India is still a cash economy.' 'For a common household, almost everything from grocery to maid services is paid in cash.' 'The demonetised notes account for 85 per cent of the currency in circulation.' 'Until fresh notes flow back into the economy, day-to-day transactions ordinarily done in cash will be impacted.'
Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.
Gains were led by Tata Motors amid robust sales in June along with select financials.
It has so far managed to raise only Rs 1,700 crore (Rs 17 billion), by divesting a 5% stake in Steel Authority of India.
Contrarian approach to investing works on the foundation of psychology of investors
As the Indian equities signed off 2019 on a remarkable note, the m-cap of BSE-listed companies rose by Rs 11,05,363.35 crore to Rs 1,55,53,829.04 crore.
