The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
Despite the $11.7 billion raised by Reliance Industries Ltd (RIL) through stake sales, venture investments in 2020 have declined by a fifth to $28.9 billion till September, consultancy firm EY said in a report on Thursday. Since mid-March, coronavirus infections started getting reported in the country, which has now become the second highest globally in terms of numbers. The lockdowns severely dented economic activity, leading to a 23.9 per cent contraction in the gross domestic product (GDP) for the April-June period and expectations of a 9.5 per cent contraction by the Reserve Bank of India (RBI) for 2020-21.
While a number of players invested more in Indian companies, another set exited the market, making profits after March. The companies that invested included Saif Partners, which made a $24 million investment in Network18, and Times Private Treaties, which acquired 12 per cent in Jiny & Jony (for an undisclosed sum), according to data with analysts and brokerage firms.
Domestic mergers and acquisitions transactions led the pack with 32 deals amounting to $5 billion.
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
The size of the deal was not mentioned in the note. However, the enterprise value (inclusive of debt ) of the deal is reported to be about Rs 800 crore (Rs 8 billion).
Trade pundits and quick think piece experts can speculate all they like, but what works at the box-office is a mystery as always.
Arjun Kapoor misses his Maa... Shilpa takes a break... Pooja Hegde shares a pic...
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
In a year of overwrought spectacles that slavishly sucked up to the audience, I found refuge in a bunch of 'mainstream' Indian films that espoused such old-fashioned values as dedication to craft, close observation and casual bravery, explains Sreehari Nair.
Investors say they see large companies going through the grind, as their promoters struggle with liquidity because they are levered up at the holding company level and are starting to get margin calls thanks to the crashes in the stock market, and in the next six months, the targets that will come up for PE companies will make for a harvest season like never before.
'I am an emotional person and hope to be stronger when I go inside because I have been told dil pe nahin lena.'
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
If he wasn't an actor, Aamir Khan could have made an excellent life coach.
Joginder Tuteja looks back at how Hindi movies have done during this festive season in the last decade.
'This world shows humanity in a fraudulent light.'
As he turns 70 on September 17, we ask you, dear reader, have you met Prime Minister Modi?
Messaging platform WhatsApp on Wednesday said it has rolled out a pilot program across 500 villages across Karnataka and Maharashtra, aimed at empowering villagers with access to digital payments through 'payments on WhatsApp'. The announcement was made at Fuel For India 2021 - Meta's annual event in India. WhatsApp India Head Abhijit Bose said the pilot aims to effect a behavioral transformation to digital payments at the grassroots.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
Sets up new financial services arm, Amit Goenka joins as CEO.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Sukanya Verma quizzes you to find out just how much you know about the movies.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
Fresher hiring is expected to more than double compared to last year.
As Laal Singh Chaddha, the official remake of Forrest Gump, awaits release, we look at other remakes and how they have fared at the box-office.
Jahnavi misses mum Sridevi... Mildind plans to run from Mumbai to Statute of Unity...
'It's been fantastic to watch you over the years. Numbers will have their roles and but your real strength is being able to motivate the whole generation.'
The stakeholders want protection from any litigation which might arise due to fresh claims against the company, especially after PE funds have bought stake in the company and the resolution plan has been cleared by the bankers.
'ABCL was almost bankrupt, Amit's house was mortgaged...'
The deal street has come out of the record lows in the pandemic-washed out June quarter with transaction value growing almost 6 per cent to $21.64 billion in the July-September quarter, thanks to a string of equity sales by Reliance in its telecom and retail arms, says a report.
'I have been trying for the past five years to get a government job.'
Investment by PEs into HLS sector dropped to $203 million in 2008-09 from $836 million in 2007-08, while the number of deals dropped 51 per cent to 21 from 43 deals. Similarly, VC investments also declined to $48 million from $80 million. In terms of deals, they dropped to 11 from 14.
Whether it is Nargis in Mother India or Nirupa Roy in Deewaar, Mama's a scenestealer while Dad is just a shadow. There are films that have explored the Dad's character with tender affection
Devangshu Datta believes you should pick stocks trading at much lower valuations than the market average.
Walmart, the world's largest retailer, is tripling its sourcing from India to about $10 billion a year by 2027, said Judith McKenna, president, and chief executive officer of Walmart International, the segment which includes the company's operations outside the US. "To achieve this, we are growing our sourcing team in India," said McKenna, during a fireside chat with YourStory founder Shradha Sharma at Converge@Walmart, the flagship event of Walmart Global Tech India. "Walmart has a 20-year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide." McKenna said the company has expertise in processes such as international standards and demand forecasting that businesses need to get ready to export.
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