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MSP Hike For Kharif Crops Announced, Micron Banned in China, Fortis Healthcare Deal et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 4, 2018 1:35 PM 2 min read
Editorial

End of Week Wrap-up (Wednesday / July 04, 2018) #MSP #Kharifcrops #IHH #Healthcare #ManipalTPG #Fortis #MunjalBurman #RadiantKKR #MCX #Flipkart #US #Micron #Qatar #KataraHoldings #Sahara #PlazaHotel #NewYork #Transfin

Editorial Comments: Modi government approves hike in MSP for Kharif crops which will cost the exchequer more than INR15,000 crores. The hike was 52.47% for ragi, 45.11% for nigerseed, 42.94% for Jowar hybrid, 12.9% for paddy, 38.64% for Bajra and 28.11% for cotton.

 

IHH Healthcare and Manipal-TPG final suitors for Fortis as Munjal-Burmans and Radiant-KKR back out of takeover bids. IHH Healthcare’s bid is INR175/share and Manipal-TPG‘s bid is INR180/share.

 

Multi Commodity Exchange (MCX) plans to enter currency derivative market with the board of MCX approving the idea of this proposal; however they are seeking more clarity and research from the market participants.

 

Flipkart set to enter financial services business; will lend to consumers and sellers. The firm is in process to get a NBFC license, as it looks to offer credit and insurance products to its 100 million customers and over 1, 00, 000 sellers.

 

US based chipset- maker, Micron, banned in China as the former loses patent infringement case. Taiwan’s United Microelectronics Corporation (UMC) filed a lawsuit against Micron in January. Micron is barred from selling 26 products in China.

 

Qatar state-owned fund, Katara Holding, buys Sahara-owned Plaza Hotel in New York for $600mn. Katara Holding has bought Sahara group’s 75% stake in the hotel, and the remaining 25% from Ashkenazy Acquisition Corp and its Saudi partner, Prince al-Waleed bin Talal.