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Anupam Rasayan's stock surged following its $150 million acquisition of US-based Jayhawk Fine Chemicals. This strategic move grants Anupam a US manufacturing presence, enhancing its global CDMO capabilities and polymer portfolio. The deal, funded through internal accruals and structured equity, is expected to be EPS accretive from day one and significantly boost US export share.
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News and Media
The European Central Bank has held interest rates steady for the fourth time. Inflation is near the bank's target. The euro zone economy is showing resilience. New forecasts suggest economic growth will strengthen. Inflation is expected to return to the 2% target in 2028. Other central banks like the Bank of England and Federal Reserve have cut rates.
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News and Media
ICICI Prudential Asset Management's IPO saw a strong subscription, indicating a likely firm market debut with potential listing gains of 10-20%. Analysts suggest the stock could list above 2,500, with some assigning a 'Buy' rating and a price target of 3,000. The company's strong fundamentals and industry tailwinds support long-term growth prospects.
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News and Media
Bharti Airtel's board has approved calling the remaining 15,740 crore from a rights issue. This move aims to cut debt and strengthen the company's balance sheet. The board also approved a top management rejig. Shashwat Sharma will become the new CEO from January 1. Gopal Vittal will transition to executive vice chairman. Akhil Garg is the new CFO.
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News and Media
Vodafone Idea has secured Rs 3,300 crore through debenture issuance. This fundraise provides crucial financial support. The money will boost network investments. The issuance was done by its subsidiary, Vodafone Idea Telecom Infrastructure Limited. This move offers the company much-needed financial flexibility.
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News and Media
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