MUMBAI, June 4 (Reuters) – India on Friday set out new
rules requiring listed companies to have a public float of at
least 25 percent, a move which could prompt tens of billions of
dollars in share sales and further crowd the pipeline for new
Listed companies with a free float of less than 25 percent
must increase it by a minimum of 5 percent a year, the
government said in a statement.
MUMBAI (Reuters) – The BSE Sensex rose 1.7 percent on Thursday to their best close in three weeks as solid U.S. home sales data rekindled hopes the global economic recovery was on track and boosted stock markets worldwide.
Energy major Reliance Industries, engineering and construction firm Larsen and Toubro and No. 2 software-services firm Infosys Technologies led the main index higher, its second consecutive rise.
MUMBAI (Reuters) – Billionaire Mukesh Ambani is in talks to buy a majority stake in JM Financial Asset Management, which oversees $1.8 billion in assets, a source with direct knowledge of the situation said on Monday.
A deal with JM Financial would give Mukesh a slice of India’s attractive fund management sector, which has drawn investors looking to capitalise on India’s rapidly growing population and a savings rate of more than 30 percent.
MUMBAI, May 31 (Reuters) – Indian billionaire Mukesh Ambani
is in talks to buy a majority stake in JM Financial Asset
Management, which oversees $1.8 billion in assets, a source
with direct knowledge of the situation said on Monday.
A deal with JM Financial would give Mukesh a slice of
India’s attractive fund management sector, which has drawn
investors looking to capitalise on India’s rapidly growing
population and a savings rate of more than 30 percent.
MUMBAI, April 19 (Reuters) – India’s Tata Consultancy Services <TCS.BO> posted its best quarterly growth in three years on a rebound in technology spending and expects fees to rise this year, galvanising hopes of a recovery in the sector.
India’s top software services exporter said it was seeing demand for outsourcing growth across its key industrial sectors including financial services, retail and manufacturing, but a rising rupee was a concern. “It’s been a good quarter which marks the turning around of all the verticals we operate in,” CEO N. Chandrasekaran told a news conference on Monday.
MUMBAI (Reuters) – Reliance Industries <RELI.BO>, has bought a stake in Indian freight services firm Deccan 360 in a deal to help boost the retail operations of India’s top listed conglomerate.
Deccan 360’s chairman said Reliance’s share was between 26 and 50 percent, while a source familiar with the matter said the company paid $20 million to $30 million for the stake.
MUMBAI (Reuters) – U.S. private-equity firm Kohlberg Kravis Roberts & Co <KKR.AS> is in talks to buy a controlling stake in Indian back-office service provider Firstsource Solutions <FISO.BO>, three sources with direct knowledge of the matter said.
KKR is negotiating to buy a stake totaling about 68 percent of the IT services company from No. 2 Indian lender ICICI Bank <ICBK.BO>, Singapore state investor Temasek Holdings <TEM.UL> and U.S.-based banking technology group Metavante, the sources said.
MUMBAI/NEW YORK, April 9 (Reuters) – Indian energy giant
Reliance Industries <RELI.BO> will pay $1.7 billion to form a
joint venture at one of the most promising natural gas deposit
regions in the U.S. with Atlas Energy <ATLS.O>, becoming the
latest foreign company to invest in shale plays that are
expected to be very lucrative.
Reliance, controlled by billionaire Mukesh Ambani, has been
working hard to expand its presence outside India, break into
new markets and broaden its various businesses including
refining, oil and gas exploration and petrochemicals.
MUMBAI (Reuters) – Indian energy major Reliance Industries <RELI.BO> gained an overseas foothold by agreeing to pay $1.7 billion to form a joint venture with U.S.-based Atlas Energy <ATLS.O>.
India’s largest-listed firm will pick up a 40 percent stake in Atlas’s operations in the booming Marcellus Shale — a gas project that spans parts of Pennsylvania, West Virginia and New York in the United States and which, according to some geologists, could hold enough natural gas to satisfy U.S. demand for a decade.
MUMBAI, April 8 (Reuters) – Indian conglomerate Essar Group
said it plans to raise about $2.5 billion by listing its energy
and power businesses on the London bourse, tapping new
investors to fund its ambitious expansion plans.
Essar, controlled by billionaire brothers Shashi and Ravi
Ruia, plans to sell a 20-25 percent stake in Essar Energy and
will use the proceeds to fund projects including the
acquisition of coal mines and the development and exploration
of oil and gas blocks, the company said in a statement.