Goldman may convert part-debt into equity in PharmEasy
The online pharmacy is also in talks to restructure debt terms ahead of rights issue; share sale set to open on September 4
China measures evoke positive vibes in battered EMs
The month-end optimism echoed in everything from a tech-stock rally in Hong Kong to firmer iron ore prices in Singapore and a stronger South African rand.
REC, Zee and NCC among stocks with up to 25% upside
Analysts have raised the price targets of some of the stocks since the beginning of August. These include REC, Zee Entertainment, Radico Khaitan, Sundram Fasteners, Welspun Corp, NCC, and Eris Lifesciences, among others, where consensus price targets have been raised by 10% to 25% earlier this month.
T-bill volumes take a hit with fall in liquidity
Until the week ended August 25, T-bill trades worth ₹1.1 lakh crore were carried out, with the average trades at ₹6,820.5 crore, Clearing Corporation of India Limited data show. The trades in July, which were 40% lower than those in August, were at ₹1.5 lakh crore with the average at ₹7,256.3 crore, the data showed.
Bad Bank’s chairman Karnam Sekar resigns after proposal to merge with IDRCL
The bad bank, officially known as National Asset Reconstruction Company of India (NARCL), was set up a year ago to acquire the sticky loans of high-street banks. There was a proposal to merge NARCL with India Debt Resolution Company Ltd (IDRCL), which led to Sekar’s resignation.
SoftBank expected to sell Zomato shares for Rs 940 crore
SoftBank’s sale of Zomato shares follows the complete exit of the New York-based Tiger Global from the company. Tiger sold 1.44% stake, or 12.35 crore shares of the Zomato on Monday for Rs 1,124 crore.
Capital outlay for renewables, roads to surge 33% in 2 years: Crisil
Road project building is likely to rise to as much as 13,000 kilometres a year, from about 10,000 kilometres, led by the Hybrid Annuity Model (HAM), said Crisil. HAM was implemented in 2016 which reduced the risk of completion of a road project to encourage companies to bid for it.