BHARTI ENTERPRISES
Del Monte Foods announces Abhinav Kapoor as new CEO
Abhinav Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said.
Amfi stock classification: BHEL, 6 more stocks to become largecaps in H2CY2024. Check m-cap cut-off
Based on average market capitalization from January to June 2024, seven stocks are poised to join the large-cap category. The list includes two-wheeler giant Hero MotoCorp, state-run companies BHEL and NHPC, along with Zydus Lifesciences, JSW Energy, Bosch, and Cummins India.
Beetel Teletech signs deal to distribute Alcatel-Lucent Enterprise products in India
Bharti Airtel-owned Beetel Teletech has partnered with Alcatel-Lucent Enterprise to distribute networking and communications solutions in India, focusing on critical sectors like telecom, transportation, and healthcare. The collaboration aims to drive digital transformation in the country by providing advanced infrastructure and services. With Beetel's extensive distribution network and Alcatel-Lucent Enterprise's product portfolio, the partnership seeks to offer accessible solutions to businesses of all sizes at competitive prices.
Adani Ports enters Sensex, Wipro exits as part of semi-annual rejig
Adani Ports joins Sensex as Wipro exits. The inclusion of APSEZ brings $259 million in passive inflows. Seven stocks' weights to rise: Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Tata Steel, and IndusInd Bank.
Gautam Adani's salary in FY24 was lower than most industry peers, even his own top execs
Going by FY24 data, Gautam Adani's salary is less than the heads of almost all big family-owned business groups in India. His pay is way below those of Sunil Bharti Mittal (Rs 16.7 crore in 2022-23), Rajiv Bajaj (Rs 53.7 crore), Pawan Munjal (Rs 80 crore), L&T Chairman S N Subrahmanyan and Infosys CEO Salil S Parekh.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
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Adani Ports to enter Sensex on Monday, Wipro to exit as part of semi-annual rejig
Adani Ports’ Sensex inclusion will trigger passive inflows of $259 million and 14.9 million shares are expected to be added, according to Nuvama’s estimates. Wipro’s exclusion could see outflows of $170 million.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Jio-SES JV Orbit Connect gets IN-SPACe authorisation to enter satcom space
Orbit Connect India, a joint venture between Reliance Jio Platforms and SES, has obtained crucial landing rights and market access authorizations from IN-SPACe, India's space regulator. This move positions Jio against Bharti Enterprises-backed Eutelsat OneWeb, Elon Musk's Starlink, and Amazon's Kuiper in India's satellite communications sector. Jio is also seeking trial satellite spectrum from the DoT for advanced trials on its nationwide satellite broadband network, aiming for an early allocation to begin trials.
Deal activity dips 3 pc to USD 5 bn in May
Deal activity in May dropped by 3% to $5.023 billion. Mergers and acquisitions fell by 58%, but private equity deals rose by 49%. Largest deals include Google's $350 million investment in Flipkart and Manipal Health's majority acquisition of Medica Synergie.
Bharti names Sharat Sinha CEO of Airtel Business
Bharti Airtel appoints Sharat Sinha as CEO of Airtel Business, effective June 3, 2024. Sinha, with extensive global experience from Checkpoint Software Technologies Ltd and other tech giants, aims to bolster Airtel's portfolio in connectivity and adjacent sectors. Both Sinha and Airtel's management express confidence in enhancing customer value and technological innovations.
Adani Enterprises, ONGC among 13 stocks on which Jefferies initiated coverage this year
Jefferies has initiated coverage on 13 Indian stocks in the calendar year 2024 so far, taking its total coverage universe to 188 with a combined market cap of US$3.4tr or 70% of India's listed market. The majority of the 13 covered stocks have been strong outperformers relative to the benchmark index. Here’s the list of 13 stocks in which Jefferies has initiated coverage:
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
Vi's Rs 18,000-cr fundraise will increase competition, but it's good for Indian telecom, says Airtel's Gopal Vittal
The Airtel managing director said that the telecom industry urgently needs substantial tariff repair, ideally via multiple rounds of price hikes to boost average revenue per user (ARPU) to the Rs 300 level as the current returns are way too low.
Brookfield India REIT set to buy Bharti’s nearly 50% stake in realty JV
Last year, Brookfield Asset Management had closed the transaction picking up around 50% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR. Following this deal, Canadian institutional investor Brookfield’s listed REIT in India and Brookfield Asset Management will together own the joint venture known as Rostrum Realty.
Bharti Enterprises sells shares of ICICI Lombard for Rs 663 crore
Sunil Bharti Mittal-promoted Bharti Enterprises on Thursday offloaded shares of ICICI Lombard General Insurance Company for Rs 663 crore through open market transactions.
How GQG's $11 billion India empire is growing fast beyond Adani
Rajiv Jain's GQG empire in India has expanded to $11 billion, diversifying beyond Adani stocks to include stocks from various sectors like energy, banks, real estate. The portfolio now comprises a wide range of stocks.
Dial Vi for victory: Cash-strapped telco pulls off biggest FPO
The allotment for qualified institutional buyers (QIBs) was subscribed 19.3 times, of which 82% bids came from foreign institutional investors (FIIs). The non-institutional investor (NII) portion got bids for 4.5 times the shares set aside for them. The retail segment was fully subscribed. The offer had opened on April 18. The FPO is part of a broader ₹45,000 crore funding programme that's key to the company's survival.
Three pvt telecom operators ideal for India: Sunil Mittal
A market with three private telecom companies is optimal for India, Bharti Enterprises chairman Sunil Mittal said on Thursday as debt-laden Vodafone Idea (Vi) got a financial lifeline allaying fears of a duopoly in the telecom sector. "My position has been consistent that three private operators are ideal for India," Mittal told ET. His comments come in the backdrop of Vi moving to secure its much-delayed funding.
Stupendous FY24 drives market cap of 25 cos by Rs 1 lakh crore; Zomato among them
The unperturbed faith of retail investors, coupled with higher participation of both foreign investors and mutual funds led the strong performance and also drove the market capitalization.
Samara Capital eyeing 50% in Del Monte Foods as well as a minority stake in Godrej Tyson Foods
The proposed deals reflect increasing investor interest in the ready-to-eat packaged foods categories, as convenience and accessibility drive aspirational demand of western-style foods even in tier-3 and 4 markets. On top of that, quick commerce and ecommerce are enabling impulse consumption and deeper reach. Both potential deals are expected to be housed in the new $150 million roll-up platform for packaged foods.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
Nifty on Tuesday ended 238 points lower to sneak below its 50-DEMA for the first time in the last four months and form a long bear candle on the daily chart.
Amber, Ambuja Cement, Axis Bank and Bharti Airtel among Jefferies' top picks
"India's capex cycle has turned from its FY20 bottom, and should last another five-plus years as the housing and corporate capex cycle play out," it said.
Jefferies picks 11 stocks that can deliver 15-25% CAGR return for 5 years
Global brokerage firm Jefferies has released a list of 11 stocks that it believes can deliver 15-25% CAGR over the next five years. Stocks with the highest upside include Macrotech, Axis Bank, Max Healthcare and Amber.
Olectra Greentech shares plunge 6% after promoter's name appears on electoral bond list
Olectra Greentech's shares declined by 6% as MEIL Holdings acquired electoral bonds worth Rs 966 crore. The company's revenue showed sequential growth.
Bharti Enterprises loses appetite for Del Monte JV, to focus on telecom
Bharti Enterprises and global investment group E.L. Rothschild had formed an equal joint venture, FieldFresh Foods, in 2004, to produce and export fresh vegetables and fruits. Three years later, in 2007, the Singapore-listed Del Monte Pacific Ltd acquired 40.1% stake in FieldFresh Foods for $20.8 million. Bharti continued to hold 50% in the company, with Rothschild staying in the company as a minority partner.
If content is king, Reliance Industries-Walt Disney Company to be kingdom
The Rs 70,352 crore ($8.5 billion) merged entity, in which RIL will infuse Rs 11,500 crore, will have a viewership share of more than 40%, enabling it to secure premium advertising rates and consumer average revenue per user (ARPU), they said. The failure of Zee Entertainment Enterprises and Sony Pictures Networks India to merge is expected to benefit Star-Viacom18, which would have had to contend with a duopoly if the Sony-Zee merger had also gone through.
It's time to rationalise and repair telecom tariffs: Sunil Mittal, Bharti Airtel
Sunil Bharti Mittal, founder of Bharti Enterprises, receives an honorary Knighthood for his contributions to UK and India business relations. In an interview, Mittal discusses Bharti Airtel, investment in 5G spectrum, rationalizing tariffs, India-UK economic ties, and the challenges faced by India's telecom industry. He says: "We need more investments into fibres, infrastructure and rural areas. Eventually be ready for 6G as well."
Sunil Bharti Mittal becomes first Indian to be awarded an Honorary Knighthood from King Charles III
Sunil Mittal, the founder and chairman of Bharti Enterprises, has been awarded Honorary Knighthood, becoming the first Indian citizen to receive this honor. King Charles III conferred Mittal with the Knight Commander of the Most Excellent Order of the British Empire (KBE) for his contributions to advancing India-UK business relations.
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