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    ANDY MUKHERJEE

    View: Sony’s spurned target shows the pitfalls of tempting Indian M&A

    Sony Group Corp. narrowly escapes a risky $10 billion Indian merger after legal intervention, leaving target Zee Entertainment Enterprises Ltd. in dire straits amid mounting legal woes. The saga underscores caution for foreign investors in Indian deals. Zee's financial woes deepen as Sony's retreat prompts uncertainty, leaving room for new suitors like Adani, but with hurdles to clear.

    View: Now is the time for Adani to raise equity — and market cred

    India’s Adani Group faces a court-monitored investigation by the Securities and Exchange Board of India (SEBI) into alleged corporate-governance violations in the wake of a short-seller report. Despite company sales data and emerging-market investor support validating the company's reputation, Adani remains under regulatory scrutiny. As the SEBI weighs enforcing penalties and fines, Adani Enterprises and Adani Transmission are preparing to launch a fundraising offering that will seek to help the companies overcome the fallout from the allegations and compensate for the loss incurred by the collapse of the group's public offering in January.

    India’s stocks are yet to feel tight money

    To see why, start with what the brokerage HDFC Securities is calling the “changing contours of monetary transmission” in India. In March 2020, less than 10% of floating-rate rupee loans were priced off an external benchmark such as the RBI’s repurchase rate. By June this year, that figure had jumped to 47%. Taking advantage of rising interest rates, lenders have frequently reset loan prices.

    Where does BlackRock see value in India’s biggest IPO?

    India’s technology landscape has evolved so rapidly since 2016 that most businesses nowadays pay next to nothing for receiving customer payments over smartphones. And the pricing pressure isn’t going to ease, except that merchants will want to pay less even for add-on services, such as reconciling accounts and handling returns and refunds.

    View: Retro tax move may not be enough to repair India's reputation

    Is this a fresh start, the beginning of an open, predictable, and fair relationship between New Delhi and global capital? It’ll require a lot more evidence to answer that question in the affirmative.

    View: This Bitcoin chaos will blow up your cyberpunk utopia

    The mania and panic that have gripped decentralized cryptocurrencies are heightening the attraction of their coming rivals: digital cash, issued by central banks.

    The Economic Times
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