The higher participation of Kubota is an attempt by Escorts to institutionalise the company, says Nanda.
“I do not know whether Paytm will ever make profit or not and to that extent, I am not looking at this stock at all from a buying perspective.â€
Sebi on Thursday clarified on guidelines for processing of draft schemes pertaining to mergers and demergers filed by listed companies with the stock exchanges.
Both the S&P 500 and the Nasdaq eked out record closing highs after a topsy-turvy Thursday on Wall Street, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker. By contrast, the Dow continued to play the laggard, registering its third decline this week, as Cisco Systems Inc weighed on the benchmark.
Stock lists at discount of 9.3% to offer price, cracks further to close at Rs 1,564.15
The offers from the state-owned entities came within months of Assets Care & Reconstruction Enterprise (ACRE) and Dubai-based entity Citax Energy giving indicative offers to the lenders, the people said.
Vodafone is the only company that has yet to apply formally. The telecom operator has to make its application under a separate provision notified later and, therefore, has more time to do so.
If such action is allowed to go through, other states may follow suit, thereby posing a systemic risk to power sector investments- existing and upcoming-including investments in much needed RE space, Association of Power Producers has said.
The Securities Appellate Tribunal (SAT) on Thursday asked Sahara group firm Sahara India Commercial Corporation Ltd and its then directors including Subrata Roy to deposit Rs 2,000 crore with Sebi within four weeks.
Paytm’s IPO and listing can potentially soften the private markets and tech valuations overall in what has been a record year for dealmaking in the digital economy, investors and analysts say.
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