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Adani group offers INR6,000cr for Ruchi Soya, India's CPI inflation rises et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 13, 2018 12:47 PM 2 min read
Editorial

End of Day Wrap-up (Wednesday / June 13, 2018) #Adani #RuchiSoya #NCLT #debt #AirIndia #CPI #HDFC #Toshiba #Toyota #Grab #Transfin

Editor's Comment: Adani group offers INR6,000cr for Ruchi Soya, emerging as the highest bidder for acquisition of debt-ridden edible oil firm. Baba Ramdev-led Patanjali Ayurved, the only other qualified bidder, has bid for around INR5,700cr.

 

Centre may sell 100% stake in Air India, add real estate as part of strategic sale, after it received no expression of interest to its divestment bid. The government is considering several proposals related to reviving the divestment process, including selling its entire 100% stake in debt-laden carrier since a residual holding was being seen as a likely deterrent toward drawing bidders to the unprofitable airline.

 

HDFC's real estate fund acquires "significant minority" stake in ATS’s HomeKraft. HomeKraft, ATS’ newly formed entity, will be investing over $300 million for development of affordable and mid-income housing across India with a mix of internal accruals, debt and private equity funds.

 

India’s CPI inflation rises to 4.87% In May, a week after the Reserve Bank of India hiked benchmark interest rates for the first time in four years in an effort to fend off inflationary pressures.

 

Toshiba announces $6.33bn share buyback after memory chip deal. The company will use proceeds from an $18 billion deal to sell its flash-memory unit to a consortium led by Bain Capital, which closed June 1.

 

Toyota invests $1 bn in Grab, a Singapore-based ride-hailing, ride-sharing, and logistics company. The investment from Toyota will see the two companies expand on their existing partnership and explore new mobility strategies across the region.