Companies and Markets

Companies & Markets

South Africa’s Life Healthcare mulls stake sale in Max chain

Life Healthcare Group Holdings, the second-largest private hospital owner in South Africa, is considering a sale of its stake in Max Healthcare, people with knowledge of the matter said.

The Johannesburg-based company is working with Barclays to explore potential interest in its holding in Max Healthcare, which is one of India’s largest private hospital chains, the people said.

IOB defends decision to set off losses from share premium a/c

Indian Overseas Bank, 91 per cent owned by Government of India and LIC, maintained that the decision to set off part of the accumulated losses with the balance in the share premium account will be in the interest of the shareholders. The bank, which has received the government nod for capital infusion of Rs 1,100 crore, will now have a ‘right-sized balance sheet’.

IDFC Bank eyes Capital First; shares fly

After calling off its merger plans with Shriram Group, IDFC Bank is believed to be in exploratory talks to acquire Capital First, a non-banking finance company. Speculation is also rife that there is a possibility of IDFC Group looking at merging IDFC Ltd and IDFC Bank. Both businesses had demerged earlier on October 5, 2015.

Amid rumours ahead of IDFC Bank board meeting on January 19, its share price on Monday surged 8.76 per cent on BSE. IDFC Ltd rose 3.34 per cent.

Agreeable to consolidation of both arbitrations:Vodafone to HC

The Vodafone Group today told the Delhi High Court that it was agreeable to consolidation of the two international arbitrations it has initiated against India in connection with a tax demand of Rs 11,000 crore under a retrospective law of 2012.

Vodafone has initiated arbitration proceedings under the India-United Kingdom and India-Netherlands Bilateral Investment Protection Agreement (BIPA) in connection with the tax demand raised against the company in relation to its USD 11 billion deal acquiring the stake of Hutchison Telecom.

Get ready for a roller-coaster ride

The new year ﷓ 2018 began on a quiet note with the market struggling for the first three days. The last two days of the week saw a strong rally, which not only wiped out the losses but also helped in registering new life-time highs for the benchmark indices. The BSE Sensex gained 97.02 points, or 0.28 per cent, to close at 34,153.85 points. The Nifty gained 28.15 points, or 0.27 per cent, to close at 10,558.85 points. In smaller indices, the BSE Mid-cap gained 1.37 per cent while the BSE Small-cap gained 2.41 per cent.

Change in reporting methodology may hit MF performance

Mutual funds are faced with a tougher performance yardstick from next month, after the Sebi has asked them to adopt the Total Returns Index (TRI) method to compare a scheme’s performance with its benchmark index.

GST on e-bus, digital camera may be lowered

The bad news for the economy may continue till the end of current financial year at least, with numbers now suggesting that oil import bill is likely to swell to $90 billion in FY18, over 25 per cent more than last year’s number. The import bill is ballooning as oil prices have soared due to a production cut by Opec and Russia. A spike in US demand amid freezing weather too has resulted in oil surging.

FY18 oil bill may swell to $90 billion

The bad news for the economy may continue till the end of current financial year at least, with numbers now suggesting that oil import bill is likely to swell to $90 billion in FY18, over 25 per cent more than last year’s number. The import bill is ballooning as oil prices have soared due to a production cut by Opec and Russia. A spike in US demand amid freezing weather too has resulted in oil surging.

A Stock market scam is waiting to be unearthed

Is India market a speculators’ den? It seems so. An analysis shows that 95 per cent of transactions in the Indian market is speculative as only less than 5 per cent of the total trades on bourses are ending up in actual delivery of stocks.

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