After a year of decline, mergers and acquisitions (M and As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
Posts tagged Rediff
Rural women drive Rs 27K cr financial inclusion deals (08-10-2024)
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
Have regulators made the system more transparent? (08-10-2024)
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a “world-class job” and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be “extremely conscious” about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, “I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking.”
India cuts arbitration time for foreign investors (08-10-2024)
India has reduced the time period for foreign investors to seek international arbitration from five years to three years as part of the recently signed investment pact with the United Arab Emirates (UAE), a departure from its model Bilateral Investment Treaty (BIT). Under the Investor-State Dispute Settlement (ISDS) mechanism, if the Indian judicial system is unable to resolve a dispute within this shortened period, investors can resort to international arbitration. The investment pact, signed on February 13 in Abu Dhabi, came into force on August 31, replacing the previous pact.
Equity rally fuels fastest quarterly growth in MFs (08-10-2024)
Mutual funds (MFs) managed a record Rs 66.2 trillion in assets during the July-September quarter, marking a 12.3 per cent increase over the previous three-month period – the highest quarterly jump in MF assets in at least five years. During the April-June period, the average assets under management (AUM) stood at Rs 59 trillion. The sharp rise in AUM, according to experts, is driven by a robust equity market rally and record inflows into equity schemes.
Sensex rides on bluechip stocks; rises 585 points (08-10-2024)
From the Sensex pack, Adani Ports and Special Economic Zones, Mahindra and Mahindra, Reliance Industries, HDFC Bank, Larsen and Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
Two sectors that added highest workers after Covid (08-10-2024)
Of the total 29 major industry groups covered in the Annual Survey of Industries (ASI), ‘manufacture of computer, electronic and optical products’ has seen the highest growth in the number of people engaged between the pre-pandemic period (2019-20) and 2022-23. A Business Standard analysis of the latest ASI results has taken into consideration only industry groups having more than 1,000 operating factories. This industry group, which includes manufacture of electronic components, computer equipment, consumer electronics and optical instruments, among others, saw the total number of people engaged rise nearly 50 per cent to 425,000 from 283,000.
Maggi revival architect Narayanan to quit Nestle (08-10-2024)
Suresh Narayanan, chairman and managing director of Nestlé India, is set to retire on July 31 next year, marking the end of an era that began 26 years ago with the Nestlé group, a multinational giant in the food and beverage space. His tenure is perhaps most famously defined by his role in reviving the Maggi noodles brand. When Narayanan stepped into leadership at Nestlé India in 2015, the company was facing criticism: the Food Safety and Standards Authority of India (FSSAI) had ordered a nationwide recall of the popular Maggi noodles due to high levels of lead found in the product.
Will New MPC Members Cut Interest Rates? (08-10-2024)
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
WazirX creditors quiz founder on restructuring (08-10-2024)
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.