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23 December 2007
India turning into a hotspot for capital : ET Story
India turning into a hotspot for capital
India Inc attracted deals worth $68.32 billion for the year 2007, significantly higher than $28.16 billion in 2006 and $18.35 billion in 2005. The jump underlines India as a hot destination for merger and acquisitions (M&A), and also for private equity (PE) investment. Of the total of $68.32 billion deals, M&A accounted for $51.17 billion while the remaining $17.14 billion was in the form of private equity investment. As per a Grant Thornton report there were 661 M&A deals, including 348 cross-border deals and 313 domestic deals.
Among cross-border transactions, 240 were outbound ones, where Indian companies made overseas acquisitions. Such deals amounted to $32.73 billion. Tata Steel’s acquisition of Corus for $12.2 billion was the largest among outbound deals, followed by Hindalco-Novelis, and Suzlon Energy-RE Power with transaction value of $ 6 billion and $1.7 billion respectively.
There were 108 inbound M&A deals amounting to $15.61 billion, where global companies or their subsidiaries acquired Indian businesses. Vodafone tops the list of such kind of deals with transaction value of $10.8 billion. The global telecom giant has acquired a majority stake of 67% in India’s one of the leading telecom players, Hutchison Essar.
An industry-wise analysis showed that steel and telecom sector clearly dominated the M&A scene as both the sectors saw deals amounting to $14.9 billion and $11.3 billion respectively in '07. Aluminium, power and energy sectors also contributed substantially to the heightened M&A activity in the country. The trend shows a diversion of M&A activity to core sectors from IT, pharma, healthcare and biotech which had seen high value M&A deals last year.
Global private equity players have been quite bullish on India story, which is also reflected in a strong flow of their investments into the country. In 2007, there were a total of 386 PE deals worth $17.14 billion, substantially higher than 302 deals amounting to $7.86 billion in 2006 and 124 deals worth $2 billion in 2005. Bharti Airtel and GMR Infrastructure are the two notable examples where the companies have attracted PE deals worth $1.9 billion and $1 billion respectively. HDFC and DLF are few other listed companies roping in PE investors.
Seven out of the top ten deals involved real estate and infrastructure-related companies, according to Grant Thornton. “The heightened deal activity is a sign of M&A becoming a key element of strategy for India Inc. There is again significant growth in Private Equity which is now a major international force and now a significant part of the capital raising by India Inc,” Grant Thornton partner (corporate advisory services), Harish HV said. However, he is concerned that there could be possible dampener in the form of competition bill which seeks to examine all large M&As.
Source: www.theeconomictimes.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
India Inc attracted deals worth $68.32 billion for the year 2007, significantly higher than $28.16 billion in 2006 and $18.35 billion in 2005. The jump underlines India as a hot destination for merger and acquisitions (M&A), and also for private equity (PE) investment. Of the total of $68.32 billion deals, M&A accounted for $51.17 billion while the remaining $17.14 billion was in the form of private equity investment. As per a Grant Thornton report there were 661 M&A deals, including 348 cross-border deals and 313 domestic deals.
Among cross-border transactions, 240 were outbound ones, where Indian companies made overseas acquisitions. Such deals amounted to $32.73 billion. Tata Steel’s acquisition of Corus for $12.2 billion was the largest among outbound deals, followed by Hindalco-Novelis, and Suzlon Energy-RE Power with transaction value of $ 6 billion and $1.7 billion respectively.
There were 108 inbound M&A deals amounting to $15.61 billion, where global companies or their subsidiaries acquired Indian businesses. Vodafone tops the list of such kind of deals with transaction value of $10.8 billion. The global telecom giant has acquired a majority stake of 67% in India’s one of the leading telecom players, Hutchison Essar.
An industry-wise analysis showed that steel and telecom sector clearly dominated the M&A scene as both the sectors saw deals amounting to $14.9 billion and $11.3 billion respectively in '07. Aluminium, power and energy sectors also contributed substantially to the heightened M&A activity in the country. The trend shows a diversion of M&A activity to core sectors from IT, pharma, healthcare and biotech which had seen high value M&A deals last year.
Global private equity players have been quite bullish on India story, which is also reflected in a strong flow of their investments into the country. In 2007, there were a total of 386 PE deals worth $17.14 billion, substantially higher than 302 deals amounting to $7.86 billion in 2006 and 124 deals worth $2 billion in 2005. Bharti Airtel and GMR Infrastructure are the two notable examples where the companies have attracted PE deals worth $1.9 billion and $1 billion respectively. HDFC and DLF are few other listed companies roping in PE investors.
Seven out of the top ten deals involved real estate and infrastructure-related companies, according to Grant Thornton. “The heightened deal activity is a sign of M&A becoming a key element of strategy for India Inc. There is again significant growth in Private Equity which is now a major international force and now a significant part of the capital raising by India Inc,” Grant Thornton partner (corporate advisory services), Harish HV said. However, he is concerned that there could be possible dampener in the form of competition bill which seeks to examine all large M&As.
Source: www.theeconomictimes.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Rollercoaster Asian stocks set to rise in 2008 : ET
Rollercoaster Asian stocks set to rise in 2008
Asian stock markets gave investors a whit-knuckle ride in 2007 but most are up harply and analysts predict turbulent gains next year despite a severe US financial crisis. "I think Asian markets will be up over the whole of 2008 -- but they are set to fall substantially over the next few months first," said Shanghai-based expert Andy Xie, a former Morgan Stanley economist. Indian and Chinese shares led the pack this year, fizzing up about 85 per cent and 40 per cent respectively and defying fears that they had already risen too far.
China held a series of sometimes huge stock flotation that raised billions of dollars, while foreign investors continued to pour money into Indian stocks. But the key Japanese bourse had a year to forget as the Nikkei-225 index slumped about 12 per cent amid a global credit crunch rooted in the ailing US economy.
"The overall Japanese market has come down quite sharply in the last few weeks," said Tokyo-based fund manager Hideo Shiozumi, the chief executive of Shiozumi Asset Management. Asian markets have struggled since November, mainly due to fears about the impact of an expected US economic slowdown after a mortgage default crisis there, analysts say. China's attempt to curb high economic and stock market growth, for instance by hiking borrowing costs repeatedly, has also affected sentiment, they say.
Source: www.theeconomictimes.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Asian stock markets gave investors a whit-knuckle ride in 2007 but most are up harply and analysts predict turbulent gains next year despite a severe US financial crisis. "I think Asian markets will be up over the whole of 2008 -- but they are set to fall substantially over the next few months first," said Shanghai-based expert Andy Xie, a former Morgan Stanley economist. Indian and Chinese shares led the pack this year, fizzing up about 85 per cent and 40 per cent respectively and defying fears that they had already risen too far.
China held a series of sometimes huge stock flotation that raised billions of dollars, while foreign investors continued to pour money into Indian stocks. But the key Japanese bourse had a year to forget as the Nikkei-225 index slumped about 12 per cent amid a global credit crunch rooted in the ailing US economy.
"The overall Japanese market has come down quite sharply in the last few weeks," said Tokyo-based fund manager Hideo Shiozumi, the chief executive of Shiozumi Asset Management. Asian markets have struggled since November, mainly due to fears about the impact of an expected US economic slowdown after a mortgage default crisis there, analysts say. China's attempt to curb high economic and stock market growth, for instance by hiking borrowing costs repeatedly, has also affected sentiment, they say.
Source: www.theeconomictimes.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
BusinessLine Stories/Articles
http://www.businessline.in/
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Indian realty sector attracts deluge of funds
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Prominent bulk deals on NSE and BSE
Damp squibAfter months of speculation on the proposed stake sale, IFCI has announced that the financial proposal submitted by the Sterlite Industries-led consortium was conditional. Hence, the Board unanimously decided to reject the ... More
Source: www.businessline.in. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Indian realty sector attracts deluge of funds
India Inc raises over Rs 45,000 cr in IPOs, follow-ons in 2007
Derivatives: Retail investors make merry
‘Satyam has created a robust, de-risked model’
Index Outlook
Cairn India: Buy
‘Make your pile – but don’t wait to invest’
How to make foreign stints less taxing
Aviation cos top list of overseas borrowers
SQL Star rejigs operations
Eaton to expand Pune engineering centre
DLF in talks with Ikea for jt venture
A product of Indian education, US mentoring
Tax saving schemes galore from mutual funds
Reliance Vision Fund: Banking consolidation
Fund Talk
Query Corner
Indian realty sector attracts deluge of funds
ABG Shipyard: Buy
Greaves Cotton: Buy
Magnum Contra Fund: Invest
Rolta India: Hold
What’s ahead
Cautious outlook for Nifty future
Television Eighteen India: Hold
False consensus bias
Kingfisher prevails
Birla Sun Life Special Situations Fund: Monitor closely
Baskets of X
Bull's Eye
Prominent bulk deals on NSE and BSE
Damp squibAfter months of speculation on the proposed stake sale, IFCI has announced that the financial proposal submitted by the Sterlite Industries-led consortium was conditional. Hence, the Board unanimously decided to reject the ... More
Source: www.businessline.in. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
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