ACQUISITIONS
Pharma sector: Turnaround for good, 6 small and mid cap pharma stocks with upside potential of up to 32%
While it might not have been making it headline, the pharmaceutical sector or commonly called as pharma has come through a tough period due to US FDA and other factors. It has been witnessing a turnaround of sorts which has been slow but more companies are showing improvement in their performance. Also there is a process of re-rating which is quietly going on in the sector. It was large players which got the attention of tend to gain first and then it is smaller and mid sized. If one looks at the corporate announcement about approval of drugs by the US FDA or other drug regulator or any entry into new markets, a number of them are coming from mid and small companies. Given the lesson which the Indian pharma industry has learnt after its reckless approach between 2005 to 2015, there is a high probability that the sector may gain attention.
Biocon Biologics to raise debt of Rs 4,500 crore for Viatris Payout
Biocon Biologics plans to raise ₹4,500 crore with HSBC and MUFG's aid for a $175 million Aflibercept option. Previous funding by Kotak and Edelweiss and Crisil predicts ₹4,800 crore debt by FY26. Tackling $1.2 billion debt, Biocon's net profit at 7% due to high-interest costs. Revenue at 57% in FY24. Ownership stands at 70%, market improved post-Viatris transition.
TA Associates leads $400-M investment in Vastu Housing
TA Associates, alongside International Finance Corporation, acquired a minority stake in Vastu Housing Finance for ₹3,340 crore ($400 million), valuing the company at ₹10,000 crore. Additionally, Vastu received a $75 million primary capital infusion. Founded in 2015 by Sandeep Menon and Sujay Patil, Vastu is a pan-India diversified lending institution, backed by Multiples Alternate Asset Management and other investors like Norwest Venture Partners, Creation Investments, 360 ONE Asset Management, and Faering Capital.
Accenture boosts silicon design chops with its third acquisition Cientra
Accenture will add Cientra's 530 employees to its Advanced Technology Centres in India. In the growing semiconductor market, several firms are taking the acquisition route to expand their businesses in the space. From September 2023 to May 2024, Accenture made a total of 35 acquisitions. The company also acquired Excelmax Technologies earlier this week.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 24%, according to analysts
For every one bull there is a half bear and that is probably enough to spoil the mood on the street. The “risk on trade” which was once again getting started probably will get hit for some time at least because of the fact that the circular by NSE on what stocks and mutual funds will be accepted as collateral or not will have short term impact on the liquidity matrix of the system. Keep an eye on liquidity and the market breadth in the next few weeks as that will determine what happens to mid-cap stocks in the medium term. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Bengaluru's second airport to be as large as Kempegowda international airport, says minister Patil
Bengaluru is set to get a second international airport that will be as large as the existing Kempegowda International Airport (KIA) and will require about 4500-5000 acres of land, according to Industry & Infrastructure Minister MB Patil. The minister shared this information on Wednesday during a media conference.
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Will the wave of mergers lead to sustainable re-rating? History is favoring a Yes. 5 cement stocks with upside potential of up to 44%
It has been seen that the decline in demand is not as strong as it used to be, maybe because the overall thrust on infrastructure is far higher or the fact that as the economy grows, the overall demand matrix is better for cement companies. Like the way other industries have gone through consolidation, cement is going through a wave of consolidation once again and there are enough examples from the past where mergers and acquisitions have preceded the next round of re-rating of the stocks.
Will the wave of mergers lead to sustainable re-rating? History is favoring a Yes. 5 cement stocks with upside potential of up to 44%
It has been seen that the decline in demand is not as strong as it used to be, maybe because the overall thrust on infrastructure is far higher or the fact that as the economy grows, the overall demand matrix is better for cement companies. Like the way other industries have gone through consolidation, cement is going through a wave of consolidation once again and there are enough examples from the past where mergers and acquisitions have preceded the next round of re-rating of the stocks.
KIMS shares surge over 4% after company enters agreement for 100% acquisition
Krishna Institute of Medical Sciences saw a 4.4% increase in shares following the acquisition of Chalasani Hospitals.
How family businesses in India can move past trust and succession challenges to pace ahead
PwC report highlights how FOs have evolved from wealth preservation units to sophisticated entities, driving impactful and responsible investing.
Rafale M Deal: India negotiating lower price after Rs 56,000-cr offer by France
The defence ministry is in the process of negotiating a lower acquisition price for Rafale M fighter jets. These jets have been selected to fulfill the Indian Navy's requirement for aircraft carrier-borne combat aircraft.
RKN Enterprises sells 12.65 pc stake in Godrej Industries for Rs 3,803 cr under settlement plan
RKN Enterprises, a part of Godrej Enterprises Group, on Monday sold shares worth Rs 3,803 crore in Godrej Industries Ltd to members of Godrej Industries Group as part of the Godrej family settlement announced in April. According to the block deal data available on the BSE, RKN Enterprises offloaded a total of 4,25,83,272 shares, amounting to a 12.65 per cent stake in Godrej Industries.
Inside the rise and fall of Indian Twitter rival Koo
Koo, the Indian social media platform aiming to rival Twitter, has closed down due to unsuccessful acquisition negotiations. The company struggled with funding challenges and workforce reductions amidst a competitive landscape. Here's a quick recap of the company's journey.
UK-based IT firm Noventiq scraps SPAC deal to list on Nasdaq
London-headquartered information technology firm Noventiq and special purpose acquisition company Corner Growth Acquisition have mutually agreed to terminate their blank-check deal, the companies said on Thursday. The two last year struck a SPAC deal that would have resulted in the combined company being publicly listed on U.S. exchange Nasdaq.
Govt starts process of acquiring land worth over Rs 4,000 crore for second phase of Noida International Airport
The district is acquiring land from villages for Noida Airport's second phase. Resettlement and compensation are progressing. YIAPL plans test flights by November and aims for commercial operations by year's end. Completion delayed to April 2025. DS Mishra, Noida International Airport Limited, and four new vendors are addressing steel shortages. Farmers to resettle in Falaida Bangar.
Kumar Birla re-enters race to buy Orient Cement to consolidate Ultratech's Southern push
Talks between CK Birla and Adani said to be at standstill over valuation, mining clearances. Orient stock up 45% in last 1 month.
Indian Twitter rival Koo shuts down after failed acquisition talks
“Patient, long term capital is essential to build ambitious, world beating products from India be it in social media, Al, space, EV or other futuristic categories. It will need a lot more capital when the space has a global giant already," Radhakrishna said in a joint post along with cofounder Mayank Bidawatka.
LatentView Analytics completes acquisition of AI company Decision Point
Decision Point Analytics has over a decade of experience in developing AI powered solutions. It has over 300 employees worldwide.
Persistent Systems buys US software firm Starfish Associates for Rs 173 crore
Persistent Systems said in a statement, "Known for its cutting-edge Enterprise Communications automation platform, Starfish Associates caters to the world’s largest enterprises including many Fortune 500 companies." Following the acquisition announcement on Wednesday morning, Persistent’s stock hit a 52-week high to 4,596 apiece rising over 2% on the BSE.
NHAI to do GIS-based land acquisition for upcoming national highway projects
The National Highways Authority of India (NHAI) on Tuesday entered into an MoU with the Survey of India for development and validation of GIS-based land acquisition plan for upcoming national highway projects in the country. As per the agreement, the Survey of India will help develop standard operating procedures and in preparation of terms of reference for consultants preparing a detailed project report for land acquisition.
Karnataka CM Siddaramaiah says allotment of MUDA plots in Mysuru for wife are lawful
Controversy surrounds CM Siddaramaiah's wife's MUDA plot allotments as Urban Development Minister Byrathi Suresh uncovers rule violations and lack of Cabinet approval, sparking a major investigation.
Puravankara aims to secure 20 million square feet of land by the end of the fiscal year
Puravankara's strategic plans include reducing net debt, optimizing debt costs, and utilizing its extensive land bank for future expansion and growth, as announced by the Group CEO. The company is focused on enhancing revenue from key markets like Bangalore and exploring new funding sources through AIFs, aligning with its goal of sustained growth and development.
Patanjali Foods to buy Patanjali Ayurved's home, personal care business for Rs 1,100 crore
Patanjali Foods Limited board approves Rs 1,100 crore acquisition of Patanjali Ayurved's Home and Personal Care business, leveraging brand equity in key segments for revenue growth and synergies. The company aims for product innovations and cost optimization.
Expect 8-10% industry volume growth for FY-25: Mohan Bangur, Shree Cement
So, in the next three quarters, the demand has to meet around 9% to 10% to make up for the lost time. In the first quarter, there were elections, there were water shortage, uncertainty of election results were there, now all those is over.
BlackRock to buy UK data group Preqin for $3.2 billion
Expanding into private markets data, I acquire Preqin for 2.55 billion pounds to offer enhanced solutions for fund managers. With a growth rate of 20%, Preqin will facilitate private markets investing, providing an accessible platform for investors. The acquisition aims to create a seamless experience for all stakeholders.
BlackRock to buy UK data group Preqin for $3.2 bln
BlackRock has agreed to acquire UK data firm Preqin for £2.55 billion ($3.23 billion) in cash, enhancing its presence in the private markets data sector. The acquisition will integrate Preqin's data and research capabilities with BlackRock's Aladdin portfolio management software. Preqin will remain available as a standalone solution. Expected to generate $240 million in recurring revenue in 2024, Preqin has grown 20% annually over the past three years. Founder Mark O'Hare will join BlackRock as vice chair. Sudhir Nair, BlackRock's Aladdin head, emphasized the goal of making private markets investing more accessible.
JK Solutions-led group's Valecha buy gets NCLT nod
Nishit Dhruva stressed the importance of saving jobs and assets through successful resolution. The consortium plans to pay creditors ₹79.52 crore against total liabilities of ₹2,869 crore, including financial creditors like JC Flowers Asset Reconstruction and State Bank of India.
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
Oyo's funding to finance global expansion, acquisitions: filings
ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.
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