As milk prices rise, analysts have an optimistic view on dairy stocks such as Heritage Foods and Dodla Dairy, hoping the companies' margins will grow in the near to medium term. From a long-term perspective, they believe that a growing population, increasing disposable income and health consciousness will strengthen dairy consumption in India.
For Billie Jean King, her leading role in the foundation of the WTA half a century ago ranks above the many successes she enjoyed on court.
According to experts in the private equity space in the country, top PE professionals, who draw huge eight-digit salaries at the top levels, have suffered a cut back in their remuneration. Another expert, who tracks the private equity space, said salaries of senior PE professionals had definitely taken a hit due to the fall in deal flows as the bonuses given to them are based on deals and exits from an investment.
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
Affordable housing, the most neglected segment of the real estate sector, is now attracting large-scale investments from developers as well as private equity funds.
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.
Blackstone Group, a global private equity player, is set to increase its focus on India. After setting the ball rolling on its corporate private equity and recently starting off its real estate opportunity focus, the company during the past week has set up Blackstone Altius Advisors, an event-driven strategy focusing on opportunities in the Asia Pacific region. Event-driven strategies are those where PEs fund merger and acquisitions or bankruptcies scenario.
Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets within 6-9 months of raising fresh capital. Its chief executive Akshaya Moondra said rollout of the modern 5G telecom services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. "With this round of funding, we believe we will be able to (come) back to participate in the industry growth which has not been possible," he said.
Difficult fund raising conditions slowed the pace of private equity (PE) investments in the country by 64 per cent to a four-year low of $3.8 billion in 2009.
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.
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The airline, which posted an annual loss of Rs 191 crore (Rs 1.91 billion) for the past financial year, has been looking to raise funds for months.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Forget Starbucks coming into India. Witness the expansion of Caf Coffee Day, which is set to mushroom across the country.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
"We plan to raise $10 million through private equity and venture capitalist and will be investing the same in expanding our operations to new geographies like West Asia and new regions in Asia," Total IT Solutions Managing Director Rajiv Mishra told PTI.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
While the Tatas are looking for PE deals of about $50 million or less, the A V Birla Group is eyeing deals worth not more than $25 million. Tata Capital is banking on its ability to source deals by exploiting the existing Tata ecosystem of suppliers and customers. The Birla group, which has committed 40 per cent of the $250-million corpus it planned to raise for its PE fund, is looking to leverage its strength to source and evaluate deals.
Amidst global private equity investment firms making a beeline for India and the growing dominance of PE players in the M&A deals executed by India Inc, US-based banking giant Bank of America has pulled curtains on its private equity division in Mumb
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.
The logistics segment is becoming a hot favourite of private equity, of late.
Reworks proposal submitted to Foreign Investment Promotion Board.
Growing business opportunities fuelled by a robust economy and an increasing number of private equity investors are prompting investment bankers to quit their jobs and turn entrepreneurs.
New business premium (NBP) growth of life insurers in March is expected to be weak owing to the high base effect in the year-ago period due to revision in taxation norms for high-value policies, insurers said. In the Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit-linked insurance plans or Ulips) with an aggregate premium exceeding Rs 5 lakh would be taxed. This rule came into effect on April 1, 2023. In March 2023, the NBP of life insurance companies witnessed a strong growth after the tax announcement. Premiums rose by 14.45 per cent year-on-year (Y-o-Y) to Rs 59,608.83 crore in March 2023 from Rs 52,081.12 crore.
HealthCare Global, an oncology care hospital chain, has received a funding of $20 million from PremjiInvest, a private equity fund sponsored by Azim Premji. With this funding, PremjiInvest has bought a "significant minority stake" in HCG. This is the third round of funding the hospital has received after it initially received Rs 50 crore from IDFC Private Equity and the second funding of Rs 10 crore from Evolvence.
Standard Chartered Private Equity Fund on Tuesday said it was carrying out due diligence for evaluating the stake before arriving at investment decision.\n\n
Private equity mergers and acquisition volumes targeted towards India have grown to $ 2.1 billion through 52 deals in 2008 so far, compared to $ 893 million in the year-ago period, making India the most targeted nation for such agreements in Asia. Buyouts by private equity investors this year account for 15 per cent of the total M&A deals in the country. This has increased 4 per cent from the same period last year. PE investments constitute 8% of the total global M&A volume.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Sources close to the development said the agreement between one of the private equity partners and the Patni brothers, who jointly hold 29 per cent stake, is expected to be signed next month.
The Indian economy has witnessed the creation of 28 unicorns, or startups valued over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said. Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.
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.
The fund would be promoted by three partners - Deepak Kavadia, Palak Jain, and Philip Ho, Managing Director of US-based private equity fund Cornell Capital. The promoters would own 75 per stake in the firm. "We are in talks with 10 large players at global scale.
Indian companies announced as many as 60 private equity deals as against 56 M&A transactions, according to the data compiled by global consultancy firm Grant Thornton. However, the total value of PE deals was lower at $2.05 billion compared to $3.01 billion in M&As transactions.
'If I had to highlight one area that will do well, it is the financial assets -- that is the private sector banks, insurance and mutual funds.'
Deccan Aviation, which operates the country's largest budget carrier Air Deccan, will make a preferential allotment to investors to raise $75-100 million for its expansion plans.
Indian start-ups are likely to experience a fillip as around 40 US venture capitalists and private equity holders have already lined up $400 million to invest in the country.
Oman's largest bank BankMuscat, which recently picked up 43 per cent stake in the domestic brokerage house Mangal Keshav Group
