Sumeet's Feed
Aug 24, 2015

Heineken eyes control of Kingfisher beer maker – sources

MUMBAI (Reuters) – Heineken NV (HEIN.AS: Quote, Profile, Research, Stock Buzz) is seeking to raise its stake in India’s largest brewer, United Breweries Ltd (UBBW.NS: Quote, Profile, Research, Stock Buzz), to gain full management control as it bets on the country’s growing thirst for beer, sources with direct knowledge of the matter said.

Dutch brewer Heineken is the single-largest shareholder in United Breweries, maker of Kingfisher beer, with a 42.07 percent stake. It now plans to take that holding beyond 50 percent by buying shares from indebted liquor baron Vijay Mallya.

Aug 24, 2015

Heineken eyes control of Indian maker of Kingfisher beer – sources

MUMBAI, Aug 24 (Reuters) – Heineken NV is seeking
to raise its stake in India’s largest brewer, United Breweries
Ltd, to gain full management control as it bets on the
country’s growing thirst for beer, sources with direct knowledge
of the matter said.

Dutch brewer Heineken is the single-largest shareholder in
United Breweries, maker of Kingfisher beer, with a 42.07 percent
stake. It now plans to take that holding beyond 50 percent by
buying shares from indebted liquor baron Vijay Mallya.

Aug 17, 2015

Slump in Indian corporate earnings set to continue

MUMBAI (Reuters) – Corporate India looks to be heading for its fourth consecutive drop in quarterly net profit as companies battle cheap imports and delay investments to expand capacity due to high interest rates.

This prolonged slump would make it tougher for Prime Minister Narendra Modi’s government to hold to its plan to accelerate economic growth to over 8 percent in the fiscal year ending March 2016, from 7.3 percent the previous year.

Aug 6, 2015

Exclusive: India seeks to step up scrutiny of offshore wealth managers – sources

MUMBAI (Reuters) – Seeking to root out undeclared wealth, India’s market regulator has sent letters to some large wealth managers operating out of low-tax centers like Hong Kong and Singapore to try and bring them under its remit, people with knowledge of the matter said.

India’s government is cracking down on tax evasion as a means of boosting revenues, and in October said the state was prosecuting several individuals on suspicion of having undeclared assets outside the country.

Aug 6, 2015

India seeks to step up scrutiny of offshore wealth managers-sources

MUMBAI, Aug 6 (Reuters) – Seeking to root out undeclared
wealth, India’s market regulator has sent letters to some large
wealth managers operating out of low-tax centres like Hong Kong
and Singapore to try and bring them under its remit, people with
knowledge of the matter said.

India’s government is cracking down on tax evasion as a
means of boosting revenues, and in October said the state was
prosecuting several individuals on suspicion of having
undeclared assets outside the country.

Jul 31, 2015

Reliance Communications draws interest in sale of tower unit stake – sources

MUMBAI (Reuters) – Reliance Communications(RLCM.NS: Quote, Profile, Research, Stock Buzz) has revived a plan to sell a stake in its tower unit, attracting early interest from U.S. private equity firms as well as sector rivals, three sources with direct knowledge of the matter said.

Reliance Communications, India’s fourth-biggest mobile phone carrier, is looking at a valuation of about $4 billion for the unit, which has about 45,000 mobile phone masts, the sources said.

Jul 31, 2015

India’s Reliance Comm draws interest in sale of tower unit stake -sources

MUMBAI, July 31 (Reuters) – India’s Reliance Communications
has revived a plan to sell a stake in its tower unit,
attracting early interest from U.S. private equity firms as well
as sector rivals, three sources with direct knowledge of the
matter said.

Reliance Communications, India’s fourth-biggest mobile phone
carrier, is looking at a valuation of about $4 billion for the
unit, which has about 45,000 mobile phone masts, the sources
said.

Jul 27, 2015

RBS in talks to sell Indian private banking unit to Sanctum Wealth

MUMBAI (Reuters) – Royal Bank of Scotland Group Plc (RBS.L: Quote, Profile, Research, Stock Buzz) is in talks to sell its Indian private banking business to Sanctum Wealth Management, a firm set up by its local private banking business head Shiv Gupta, a spokeswoman for the bank said on Monday.

Switzerland’s Union Bancaire Privee said in March it was buying the overseas business of British wealth manager Coutts from RBS, as part of the bank’s drive to pull back from foreign markets and focus on UK retail and commercial banking.

Jul 16, 2015

JSW shelves plan to buy cricket team, cites graft-hit IPL’s “negative aura”

MUMBAI (Reuters) – JSW Group, an $11 billion conglomerate with interests ranging from steel to power, is shelving plans to buy a cricket team in the money-spinning Indian Premier League (IPL), citing the “negative aura” of the corruption-hit competition.

Domestic media had reported that JSW, controlled by billionaire Sajjan Jindal, was in talks with British beverages group Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz) to buy United Spirits Ltd’s (UNSP.NS: Quote, Profile, Research, Stock Buzz) stake in the Royal Challengers Bangalore cricket club in a $100 million deal. Some of India’s biggest companies have invested in the IPL.

Jul 16, 2015

India’s JSW shelves plan to buy cricket team, cites graft-hit IPL’s “negative aura”

MUMBAI, July 16 (Reuters) – India’s JSW Group, an $11 billion conglomerate with interests ranging from steel to power, is shelving plans to buy a cricket team in the money-spinning Indian Premier League (IPL), citing the “negative aura” of the corruption-hit competition.

Domestic media had reported that JSW, controlled by billionaire Sajjan Jindal, was in talks with British beverages group Diageo Plc to buy United Spirits Ltd’s stake in the Royal Challengers Bangalore cricket club in a $100 million deal. Some of India’s biggest companies have invested in the IPL.