Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

SEBI Crackdown on FPIs, Fortis Receives Renewed Bids et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 1, 2018 12:52 PM 1 min read
Editorial

End of Day Wrap-up (Tuesday / May 01, 2018) #HDFC #Fortis #healthcare #IHH #SEBI #WhatsApp #FederalReserve #Transfin

Editor's comment: L&T sells its electrical unit to a consortium led by France-based Schneider Electric at enterprise value of $2.1bn. Schneider Electric will own 74% of asset with Singapore-based Temasek Holdings owning the rest. Sale part of non-core disposals by L&T. 

 

HDFC pushes for affordable housing loans, with economically backward and low-income lending growing at 32% and 41% respectively yoy. Corporate loan book shrink yoy.  

 

Fortis receives revised binding offer from IHH Healthcare at INR175 per share vs. INR160 per share earlier. Two member advisory committee to assess all binding offers today and share recommendations with Board who will take final decision on May 10.

 

SEBI cracks down on Foreign Portfolio Investors being used by NRIs or PIOs as vehicles for round-tripping funds etc.  

 

WhatsApp Co-founder Jan Koum quits company over reported disagreement with parent Facebook on encryption and privacy concerns. Koum against usage of user data for advertising and resulting weakening of end-to-end message encryption. 

 

Federal Reserve likely to hold rates this week with investors betting on a June hike.