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Jubilant Bhartia Group's promoters are selling minority stakes in listed companies to raise 2,000 crore for partially funding the acquisition of a 40% stake in Hindustan Coca-Cola Beverages (HCCB). Goldman Sachs Asset Management has already raised $600 million for the deal, and the group is divesting non-core assets. The deal values Coca-Colas bottling arm at 31,250 crore.
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News and Media
The Cayman Islands are emerging as a preferred destination for Indian software startups chasing global markets, offering greater flexibility in raising capital, whether from India or abroad. The self-governing British Overseas Territory is a region of interest for software-as-a-service (SaaS) companies scaling up their international ambitions.
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News and Media
Analysts predict significant growth for select stocks. Bansal Wire Industries is projected to surge 22% due to its expanding steel wire plant. Tata Communications anticipates a 16.6% rise driven by data revenue and strategic asset monetization. Home First Finance expects an 18.4% increase, positioned favorably in the affordable housing finance sector.
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News and Media
Indian Oil Corporation (IOC) has withdrawn its bond issue despite strong investor interest, anticipating better pricing due to increased liquidity from the RBI's recent policy rate cut and CRR reduction. The issue, which received bids of 9,830 crore, was pulled as IOC seeks a narrower spread over government bond yields, following a similar move by PFC earlier in the week.
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News and Media
Investor concerns persist for paint companies due to intense competition and weak demand, impacting profitability. Despite recent share underperformance, valuations remain high, leading to analyst caution. The entry of new players like Aditya Birla Group intensifies the fight for market share, further pressuring margins and potentially causing incumbent stock prices to struggle.
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News and Media
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