Saudi Arabia’s Public Investment Fund emerged as the world’s most active sovereign investor last year, boosting its deal activity even as most global peers including GIC Pte and Temasek Holdings Pte slashed spending. PIF, as the Saudi fund is known, deployed $31.6 billion in 2023, according to research consultancy Global SWF. That was higher than … Read more
BP is competing with Petroliam Nasional Bhd or Petronas, the Malaysian state-owned energy company, to invest $1.5-2 billion for a significant minority stake in a new platform wholly owned by the two founders of Greenko, Anil Chalamalasetty and Mahesh Kolli, said people aware of the development. Discussions have advanced with both parties and Greenko is … Read more
Kolkata: Bandhan Financial Holdings Ltd’s (BFHL’s) plan to enter into the mutual fund business has crossed another hurdle with market regulator Securities & Exchange Board of India giving no-objection to its purchase of IDFC’s stake in IDFC Asset Management Company. Sebi‘s approval letter was issued on November 29. The Reserve Bank of India and Competition … Read more
Global brokerage CLSA maintained its sell rating on while retained buy on . We have collated a list of recommendations from top global brokerage firms from ETNow: CLSA on Tata Power: Sell| Target Rs 212CLSA maintained a sell rating on Tata Power for a target of Rs 212. The stock closed at Rs 229 on … Read more
Recovery in the second half of 4QFY22 offset the impact of the Omicron Covid wave. While the business was impacted for 35-40 days in 4QFY22, a quick recovery was seen in the latter part of the quarter. Sales in January 2022 and in mid-February 2022 were affected by the onset of the Omicron Covid wave. … Read more
New Delhi: Global brokerage firm CLSA has come with a positive outlook on as many as three Indian stocks, across various consumer centric sectors. The Hong Kong headquartered firm is bullish on the companies like , and . On Tata Motors, CLSA has maintained an outperform rating with a target price of Rs 480 as … Read more
Mumbai: Logistics company Delhivery has raised ₹2,347 crore from 64 anchor investors ahead of its maiden initial public offering, which will open for subscription Wednesday, May 11. About 48 million shares were allotted to anchor investors at ₹487 each, the upper end of the price band for the IPO, according to investment bankers. Some of … Read more
Punjab finance minister Manpreet Badal has written to Union finance minister Nirmala Sitharaman asking that the recommendations of the Goods and Services Tax implementation committee () be approved by the GST Council as the committee did not have powers to make rules. While seeking an opinion of the law ministry or the attorney general on … Read more