Yes Bank may not give its approval for Blackstone Group's buyout of Coffee Day Group's Global Village Technology Park, Mint reports.Coffee Day Group promoters have a debt of around $1 billion, the report said. The proposed Rs 2,800-crore sale of Global Village Technology Park is expected to help the group service some of its debt.Yes Bank is the single-largest lender to Coffee Day Group, with an exposure of Rs 1,500 crore, the report said.Close “Almost all statutory approvals, including the Karnataka government’s nod, have come, except for Yes Bank’s NOC (no-objection certificate)," a source told the paper. related news Nearly 500 CCD outlets shut down across India since April: Report Coffee Day Enterprises executes definitive agreement with Blackstone Group for tech park sale at Rs 2700 crore Blackstone Group signs definitive agreement for Coffee Day's tech park: Report Moneycontrol could not independently verify the report.Yes Bank, Coffee Day … [Read more...] about Coffee Day lender Yes Bank may block Blackstone deal: Report
Service heating and cooling
The US-China trade war, sluggish global economy and a prolonged subdued demand took the sheen of steel in recent times but brokerages and experts are now seeing a glint of revival in the sector.In a report on December 6, Edelweiss Securities said that the US-China trade war had not curbed steel trade in Asia. Besides, China’s production rate had likely peaked and the construction demand in the first half of the calendar year 2020 could even surpass the estimates.Also, low raw material prices are helping maintain the margins in China. All these factors augur well for steel manufacturers, as a stable market balance in China is critical for them.Close "Apprehensions of China upsetting the steel applecart are overdone due to limited capacity increase (38mt) through to calendar year 2023 and steady growth in construction and infrastructure segments, which is 52 percent of demand," said Edelweiss Securities. related news 'Investors with long-term horizon can look at … [Read more...] about Signs of recovery and hope; are steel manufacturers finally ready to shine?
Even as reports hinted that Yes Bank would reject Canadian industrialist Erwin Singh Braich's $1.2 billion bid in favour of institutional investors, Bloomberg has reported that Briach's claims may be under question.The offer from Braich and Hong Kong-based SPGP Holdings had been expected to make up a bulk of Yes Bank's $2 billion fundraising plans but was clouded by concerns over certain foreign bidders being disallowed to acquire a stake in the bank by the Reserve Bank of India (RBI).It has now emerged that Braich is allegedly involved in numerous lawsuits with creditors and family members.Close Moneycontrol could not independently verify the report. related news Anti-diabetes drug Vildgliptin to become 80% cheaper Hyundai to increase vehicle prices from January Aditya Birla Fashion gets board nod for appointment of Himanshu Kapania as Vice Chairman Braich told Bloomberg he had the funds and had been "under the radar" with "a lot of different holdings and assets” that … [Read more...] about Yes Bank bidder Erwin Singh Braich has history of bankruptcy, questionable business deals: Report
CNBC-TV18The S&P BSE Sensex rallied by about 29 percent in the year 2017 but the year 2018 is unlikely to deliver a similar return, suggest Samir Arora of Helios Capital in an interview with CNBC-TV18.Arora who is not a big fan of Cryptocurrencies said that 2018 will be a tougher year for investors as compared to 2017. If we look at markets across the globe such as US, Europe, Japan or any market in dollar terms — everything is up 15-30-40 percent.Close In India, midcaps rose by about 45 percent while Smallcaps would be 60 percent. Obviously, this is a bit too much. I no longer believe in fighting the corrections in the market, said Arora.Samir AroraFund Manager|Helios Capital Management 'If there is no fiscal expansion in Budget, market will fall'India did better than expected given PNB scam, LTCG tax: Samir AroraLTCG will hurt FII behaviour; will make India underperform other EMs, says Samir AroraIf you betting on smallcap stocks on the assumption that if markets will … [Read more...] about Year 2018 will be much tougher for the market than 2017: Samir Arora
Subir RoyIt is hugely ironic that the Bharatiya Janata Party (BJP) government’s decision to speedily amend the Citizenship Act should be met with strong protests not just by key opposition parties for understandable reasons, but also by students across the Northeast, foremost being those in Assam, when they should have been the first to welcome it.The hurried move was prompted by the need to make the National Register of Citizens (NRC) work after the final shape of the Assam NRC was found to be deeply flawed by those who has fought for it over the years. The register, prepared under the supervision of the Supreme Court, was meant to fulfil the promise of the Assam Accord to record the citizenship status of all those who migrated into Assam until 1971, thereby establishing those who came thereafter as foreigners. In the event the Assam NRC excluded many who were not post-1971 entrant Muslim cultivators.Close When this flaw which excluded many indigenous Indians created an uproar … [Read more...] about Politics | Why the Citizenship Amendment Bill does more harm than good