After initially cheering the deal, the stock market gave its thumbs-down to Mankind acquiring BSV at the premium valuations of eight times its FY24 revenues and 23 times its estimated ebitda of FY25. The Mankind stock opened 4.5% higher on Friday but closed 3.6% lower. Worries over funding of expensive deal and taking of debt for a debt-free company dragged down the positive sentiment.
Uday Kotak lauds MUFG stake buy in Shriram Finance but flags big question on next move
Uday Kotak welcomed MUFG Bank’s Rs 39,618 crore investment in Shriram Finance, questioning whether it should remain an NBFC or eventually seek a banking licence