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India Maintains Position As Fastest Growing Major Economy et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 1, 2018 12:41 PM 1 min read
Editorial

End of Day Wrap-up (Friday / June 01, 2018) #Fortis #Healthcare #GDP #manufacturing #GST #Samsonite #Facebook #CNN #FoxNews #Transfin

Editor's comment: Fortis Healthcare shortlists Munjal-Burman, Manipal-TPG, IHH Healthcare Berhand, and Radiant Life Care for fresh sale round. As per updated criteria, buyers must make minimum investment of INR1,500cr into Fortis Healthcare apart from having a plan for funding the acquisition of RHT Health Trust and an exit approach for PE investors of SRL. 

 

India maintains position as fastest growing major economy in Q4 at 7.7%, with strong growth in agriculture (4.5%), manufacturing (9.1%), and construction sectors (11.5%).

 

Manufacturing PMI slows in May at 51.2, down from 51.6 in April, on back of weaker expansion in output, new order growth, and employment. 

 

GST collections decline to INR94,016cr from over INR103,000cr in April, though up 4.6% yoy.

 

Samsonite CEO Ramesh Tainwala resigns one week after short-seller claims the executive misrepresented himself as having a doctorate. US based investment fund Blue Orca Capital accused Samsonite of "questionable accounting practices and poor corporate governance" in a report last week.

 

Facebook close to launching content from Fox News and CNN on its video platform Watch. Platform is supposed to promote high-quality news by enforcing strict ethical standards, correction policies etc.