PRIVATE ENTITIES
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
Bond inclusion positive for banks; return of FII flows to benefit private banks: Pranav Gundlapalle, Sanford C Bernstein
Private sector banks, particularly HDFC Bank, are poised for growth and profitability. Indian bond inclusion may impact liquidity and interest rates, benefiting the banking sector. Public banks face challenges in profitability and growth compared to private counterparts. Regulatory actions in the NBFC sector may favor established players like Muthoot, says Pranav Gundlapalle.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
Jigar Mistry on five sectors where investors can allocate fresh capital
Mutual funds, if you look at the smallcap number of folios, that has gone up 4x in under three years. We have now more smallcap folios than midcap or largecap number of folios.
Axis Bank entities to up stake in Max Life Insurance at Rs 336 crore
Axis Bank and its subsidiaries have approved increasing their stake in Max Life Insurance to 19.99% through a Rs 336 crore cash deal. This move aims to bolster Axis Bank's presence in the life insurance sector, following earlier regulatory approvals for equity infusion in Max Life.
Large private banks will do well over next two-three years: Sumeet Kariwala
The banks which have struggled to the asset quality cycle over there the earnings expectations are low, the valuations are depressed and to that extent from a stock market perspective the earnings upgrades as well as valuation re-rating can be quite meaningful and we have seen a lot of stocks double and triple over the last two-three years.
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Adani’s Aussie coal port gets A$500 million private credit loan
Adani Group's Australian coal port unit has secured A$500 million private credit loan from Farallon and King Street Capital Management. Banks' reluctance due to ESG concerns prompts coal companies in Australia, like Whitehaven Coal Ltd., to seek private financing.
Will market get into consolidation mode ahead of Budget? Mahantesh Sabarad answers
I think EPC companies can potentially do well because it is all about the order book that they will start getting in. With the new government formation in, you will see infrastructure activity particularly road building kind of activities start picking up. Alongside, you also have a host of metro projects coming up for completion which requires that last bit of push when it comes to construction activities.
RBI to set up digital payments intel platform after cyber frauds spike over 700%
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, announced the launch of a digital payments intelligence platform to address the recent rise in bank and digital frauds.
RBI sets up panel to track online payment frauds; AP Hota to head committee
Along with Hota, representatives of NPCI, State Bank of India, HDFC Bank and ICICI Bank have been made members of the committee. The platform will establish operational guidelines for the proposed processes, determining the extent of data to be provided by reporting entities such as banks and fintechs. The committee will be responsible for defining these guidelines.
Macro risks might lead to valuation derating for SBI, says JM Financial
JM Financial believes that there could be de-rating of SBI's valuations due to macro risks. In view of recent market volatility, SBI gives the analysts confidence on the back of its strong liability franchise.
Brett Lee granted tax relief by ITAT due to invalid notice service
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) provided relief to former Australian cricketer Brett Lee in a tax case, ruling that the notice served to him under the Income Tax Act was beyond the limitation period. The case involved a ₹3 crore endorsement fee received by Lee for the assessment year 2013-14 from three Indian entities. The tribunal found that the notice, sent a day before the deadline and to the wrong email address, was invalid. As a result, the assessment order was quashed.
Now India can hope to have its own SpaceX and Blue Origin
Elon Musk's SpaceX and Jeff Bezos' Blue Origin lead the global space industry discourse. From reusable rockets to space tourism, these companies drive innovation in the space sector.
IRB Holding sells Rs 1,444.8 cr worth IRB Infrastructure shares
In a separate deal, Nomura India Investment Fund bought shares of IRB Infrastructure Developers worth 256.59 crore on BSE. Shares of IRB Infrastructure Developers slumped 9.9% to close at 65.5 on Thursday.
Indian weapons falling into wrong hands? Defence Ministry tightens monitoring
The defence ministry is enhancing monitoring of defence equipment production and requiring companies to adhere to end-user certification rules for exports. The sector has seen a surge in arms and weapons production, particularly in response to the Ukraine-Russia crisis.
What are the three pockets of opportunities going forward? V Srivatsa explains
V Srivatsa, Fund Manager and Executive V-P at UTI AMC, sees opportunities in private banks, healthcare, and FMCG sectors amidst market volatility and election outcome uncertainties. Srivatsa also says that he is quite positive on is commodities because that has seen a very sharp run-up in the prices which will start reflecting in the coming quarters.
Sebi moots relaxation in valuation norms for alternative investment fund
Capital markets regulator Sebi on Thursday proposed providing relaxation on the framework pertaining to valuation of investment portfolio of alternative investment fund (AIF).
Go Digit makes stock market debut, gains 12% on issue price
Ahead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.
Starting your own business? Take these financial precautions before quitting your job
He has worked for 25 years and has held senior management positions in large companies. He holds a large portfolio of assets, including real estate, equity, mutual funds and bonds. He is fairly confident that his business idea will scale up. His two children are currently pursuing their graduation.
"ISRO aims to explore human space flight activities, build space stations": Chairman Somnath
Indian Space Research Organisation (ISRO) Chairman Sreedhara Panicker Somanath on Sunday attended a programme at a school and said that the space agency aims to explore human space flight activities and build space stations.
Maharashtra: Government hospitals gear up to outsource critical services
Government hospitals in Maharashtra collaborate with private firms to introduce advanced diagnostic services. District hospitals play a crucial role in providing free treatments for various ailments. Meanwhile cardiac cath labs, and 10-year agreements aim to improve healthcare accessibility. Private players to operate MRI and CT scan facilities, billing at CGHS rates.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
Godrej conglomerate split: How should investors play the listed entities?
Splitting into Godrej Enterprises and Godrej Industries brings clarity, with no major immediate stock impact. Analysts await Vikhroli land development by Godrej and Boyce, potentially positive for stock.
Dubai Crown Prince approves series of initiatives to mitigate impact of severe weather in Dubai
Sheikh Hamdan approved a series of initiatives and measures to urgently mitigate the impact of the severe weather in Dubai, which were formulated at a recent meeting he held with heads of government entities.
Ministry seeks feedback on coal gasification scheme by Mar 20
Ministry of Coal seeks feedback for coal gasification plants in India, allocating Rs 8,500 crore. Categories include PSUs, private sector, demonstration projects. National Coal Gasification Mission aims to gasify 100 million tonnes of coal by 2030. Government actively engaged in clean coal initiatives.
BTC's Department of Industries, Assam Bio Refinery Private Limited sign MoU at to set up a bamboo value chain in the region
An MoU was signed between the Department of Industries, Bodo Territorial Council (BTC) and Assam Bio Refinery Private Limited at Guwahati to set up a strong Bamboo Value Chain in the five Districts of the Region.
Exploring the history of lunar landings, as U.S. company achieves first private moon landing
A U.S. company, Intuitive Machines, has successfully landed a spacecraft on the moon, becoming the first private entity to do so. This achievement marks a significant milestone, as only five countries have previously achieved a safe moon landing. Despite the lander tipping over on its side, Intuitive Machines managed to establish limited communications, showcasing the growing capabilities of commercial space exploration efforts.
IFC-ADB, just climate in race to buy fourth partner energy
Fourth Partner focuses on building and financing renewable energy projects for commercial and industrial entities. It has an installed portfolio of 1.35 GW and is targeting to expand that to 3.5 GW by 2025. In fiscal 2022, it posted revenue of ₹1,018 crore, up from ₹459 crore the previous year, as per latest available financial numbers.
Plan in works to recognise skill certification of MNCs, top companies
While Microsoft, IBM, HCL Tech and the Confederation of Indian Industry (CII) have come on board, talks are on with Google, Meta, Cisco and various sector leaders, a senior government official told ET. "The plan is to have at least 10 international awarding bodies in the next two months and double this to 20 by July 2024," the official said.
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