Japanese drug major Daiichi Sankyo on Saturday deferred its proposed open offer to acquire an additional 20 per cent stake in Ranbaxy Laboratories, citing a delay in approvals from market regulator Securities & Exchange Board of India.
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
Madhabi Puri Buch, MD & CEO, ICICI Securities tells Sidhartha she is using the present market conditions to focus on innovation.
ICICI Securities, Daiichi Sankyo's offer manager, has indicated that there will be a delay in payment for Ranbaxy's accepted shares as the acquisition of the country's largest drug maker is yet to clear all regulatory and procedural hurdles. Daiichi has agreed to accept Ranbaxy shares from the open market as well as its promoters for Rs 737 a share. The company's scrip closed at Rs 347.2 at the Bombay Stock Exchange on September 22.
Budget has proposed an additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to end-March, 2020 for purchase of an affordable house, valued up to 45 lakh.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
ICICI Securities (I-Sec) has topped the Prime Database league table for money raised through initial and follow-on public offerings (IPOs/FPOs). Besides being No.1 in IPO transactions this year, the category-1 merchant banker is working on a lot of private equity transactions.
Finance Minister P Chidambaram on Thursday told global investors that no further measures were in the offing to curb capital inflows, even as he said India would ease procedures for foreign institutional investors (FIIs) to register and do business in the country.
In a written reply to the Rajya Sabha, Minister of State for IT and Communications Shakeel Ahmad said a consortium of consultants led by ICICI Securities has suggested some options for restructuring of MTNL and BSNL.
National Hydroelectric Power Corporation, the central power utility, has shortlisted five merchant banks for its initial public offering likely to hit the market in first quarter of FY08.
But trading through the route still a minuscule portion of total turnover
Infrastructure stocks are once again gaining traction.
There are several positive reasons to invest in the NTPC offering from a three-year perspective.
ICICI Bank on Saturday reported a 35 per cent jump in net profit in the third quarter this fiscal at Rs 1,230 crore (Rs 12.30 billion) compared to Rs 910 crore (Rs 9.10 billion) in the year-ago period.
The buyback price is at around 28 per cent premium to the current market price of Rs 67 on the Bombay Stock Exchange
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
Fund managers do not see any dent in the India story. Given the strong fundamentals, there is optimism that foreign fund flows may even exceed 2005's level of $10.7 billion.
Ahead of a crucial meeting of the department of telecommunication, with the two public sector undertakings to decide on the next step towards synergising their operations, MTNL on Monday said that making it a subsidiary of BSNL would not yield the de
In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
The consortium led by ICICI Securities is likely to submit by January end its first report containing the options of synergising the operations of two telecom public sector undertakings -- BSNL and MTNL.
The government had last sold 5 per cent stake in ONGC in 2012 for Rs 14,000 crore (Rs 140 billion).
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
Net inflows of $1.2 billion into Indian equities in the last two months have taken market participants by surprise.
Vijay Mallya-controlled UB Group's open offer for acquiring stake in liquor firm Shaw Wallace will begin on April 18, the manager to the offer said on Thursday.
India, still punching well below its weight in terms of drawing foreign investment, showcased its vast potential in Singapore and sought more FDI in the country's lucrative infrastructure sector.\n\n\n\n
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
So far, nine companies have raised Rs 17,860 crore - nearly three times of last year's tally - by way of rights issues.
Weakness in the broader markets, along with expensive valuations that these companies had commanded during their IPOs, has led to this fall
