According to reports, private-equity firms such as Silver Lake Partners are considering bidding for Yahoo.
Public sector banks (PSBs) have delivered significant outperformance over the past three years and the sector has been re-rated. Given the growth and profitability expectations of an 18 per cent return on equity (RoE) over FY24-26, there is still a case for buying at the current levels. While the net interest margins or NIMs may remain range-bound or have a downward bias, there's optimism about possibly better opex ratios and lower non-performing assets (NPAs), plus scope for further credit cost reduction, and healthy treasury performances as interest rates trend down.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
Three-four funds have recently collected money from Indian HNIs, with an average ticket size of anywhere between Rs. 50 lakh to Rs. 1 crore.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
"There is an enormous amount of interest in investing in India," Mehra said at ICICI Bank's office in Dubai. "We could be doing at least another 10 deals over the next year".
Domestic mergers and acquisitions transactions led the pack with 32 deals amounting to $5 billion.
Dia Mirza got married in a simple yet beautiful ceremony to private equity professional Vaibhav Rekhi on February 15.
Total foreign direct investment into India rose 2 per cent to the "highest ever" $83.57 billion in 2021-22 on account of various measures like policy reforms and ease of doing business taken by the government, the commerce and industry ministry said on Friday. Total FDI comprises equity inflows, reinvested earnings and other capital. In 2020-21, the inflow stood at $81.97 billion. It was $74.39 billion in 2019-20 and $62 billion in 2018-19. "India has recorded the highest ever annual FDI inflow of $83.57 billion in 2021-22," the ministry noted in a statement.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
This period of strong growth not only offers opportunities but also calls for strategic considerations to ensure sustainable development and equitable prosperity in the years to come, suggests Sujan Hajra.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
'This trend will continue as long as the bull run continues.'
Kingfisher Airlines' plans to raise $400 million are on track and private equity players have showed keen interest in investing in the airline, its chairman Vijay Mallya said on Friday after the annual general meeting in Bangalore.
Standard Chartered Mutual Fund on Wednesday launched a close-ended Enterprise Equity Fund that\nwould invest 10 per cent of its corpus in public offerings.
Mergers & acquisitions started off on a strong footing, hitting a four-year high at $30.3 billion in the first quarter of 2022, bucking the global trend where deal-making fell sharply, says a report. Deal activity grew by 5.6 per cent in value terms in January-March 2022 compared to the first quarter of 2021, making it the highest first-quarter period since 2018 when it was $31.1 billion. In volume terms, the M&A activity grew 29.6 per cent in the first quarter of 2022, making it the best-ever quarterly number, according to the M&A numbers collated by Refinitiv, an LSEG business, which is among the world's largest providers of financial markets data and infrastructure. M&As involving domestic companies stood at $23.7 billion, down 8.3 per cent on year.
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
Kotak Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by HDFC twins, ICICI Bank, Tech Mahindra, Bajaj Finance, Asian Paints and TCS. NSE Nifty surged 142.20 points to 15,098.40.
Meanwhile, 117 Pan-Asian private equity players - with India as focus -- aim to raise funds worth $59 billion, says UK-based Preqin, an alternative assets research and consultancy group. On a global platform, he said, majority of investors remain positive towards private equity. Aditya Birla Private Equity is an example.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
According to data compiled by deal space research firm VCCEdge, private equity firms invested $7.97 billion in India during the 12 months ending December 2010, compared to $4.06 billion during the previous year.
Private equity firms invested about USD 3.7 billion across 133 deals during the first quarter of 2018 as compared to USD 7.3 billion by way of 200 transactions a year ago.
Bhargava along with Harsha Raghavan, the former India head of Candover Investments, have formed Steer Capital.
According to 'India PE Report 2010', released by global consultancy Bain & Company, there is renewed confidence among the leading PE investors about the Indian market.
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
According to a report by international research firm Preqin, 623 private equity funds worldwide raised an aggregate $49.9 billion in the January-March quarter of the 2011 calender year, 72 per cent higher than year-ago period when 470 deals valued at $29 billion were completed.
Stock markets and entrepreneurism are linked and private equity is about taking the start-up to the IPO stage.
India emerged as one of private equity investors' favourite investment destinations in April, with the volume of transactions rising three-fold to $840 million in comparison to the same month last year, according to a study.
Private equity investments as well as merger and acquisition (M&A) transactions in the country have witnessed consistent growth so far this year, as deals worth over $52 billion have been announced in this space.
In February, 22 PE deals were announced, against 23 deals in the same month last year.
Of the amount, the home-grown private equity player founded by Renuka Ramnath plans to deploy $8 billion in various companies as part of its blueprint for growth.
To expand its services in the five-player private direct-to-home market, Reliance Big TV Ltd, the promoter of Big TV DTH services of the Reliance ADA Group, plans to sell up to 49 per cent to foreign private equity companies and global DTH players.
While comparing from July, deal value in August was up 60 per cent due to some large deals during the month.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
Firstsource raised $275 million (around Rs 1,265 crore) through foreign currency convertible bonds in 2007 to fund the acquisition of MedAssist.
The association of Mashelkar and Mukesh Ambani is not new.
Texas Pacific Group, the global private-equity fund, which manages around $20 billion, has named former Intel Capital managing director Varun Kapur to lead its investments in India effective this week.
