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<ul><li>The value per share of Vedanta’s stake in Hindustan Zinc Ltd itself is ₹137 apiece and the book value of the was ₹178 as on Sept 30,2019 , according to a note from HDFC Securities.</li><li>Now, the minority shareholders have to approve the delisting at the given price and there should be twice the number of smaller investors in favour of the delisting than those against. </li><li>Voluntarily delisting cannot happen if minority shareholders do not sell their share. </li></ul>The shares of Vedanta Resources fell nearly a percent and a half on Tuesday morning (May 19) after the Board of Directors approved the delisting of the stock at ₹87.5 a piece. The process will cost $2.1 billion to buy out at least 90% of the shareholders at the current price. <div type="image" title="vedanta stock chart" msid="75818634" hostid="261" caption="&amp;lt;p&amp;gt;The value per share of Vedanta&amp;#8217;s stake in Hindustan Zinc Ltd itself is &amp;#8377;137 apiece. The book value of Vedanta as on Sept 30, 2019 was &amp;#8377;178, according to HDFC Securities.&amp;lt;/p&amp;gt;"></div> The promoter group currently owns 50.14% stake in Vedanta while the rest is held by institutional investors and minority shareholders. The promoter group has made an offer to acquire all the balance shareholding, at least 90% of all shares, for the voluntary delisting of the company from stock exchanges. <div type="Article" hostid="261" msid="75818116" title="Billionaires Azim Premji and Kiran Mazumdar Shaw argue against the labour ‘reforms’ in Indian states⁠— and they are not alone" mstype="2" mssubtype="0"></div> Is this a fair price? The value per share of Vedanta’s stake in Hindustan Zinc Ltd itself is ₹137 apiece. The book value of Vedanta as on Sept 30, 2019 was ₹178, according to a note from HDFC Securities to its clients. Therefore, the delisting price has to be a lot higher than the one decided by the Board of Vedanta. "The announcement of delisting comes at cyclical lows and we believe at a significant discount to the fair value, especially when oil, zinc, aluminum, lead all have taken a beating due to the pandemic and greenshoots of recovery have started emerging in China," broking firm Emkay said in a report dated May 13. <table style="width: 343pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:182pt">Brokerage</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 161pt;">Target price for Vedanta</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Motilal Oswal</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹85</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emkay</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹112</td> </tr></tbody></table> What are the next steps? Now, the minority shareholders ⁠— there should be twice the number of smaller investors in favour of the delisting at the given price ⁠— have to approve this resolution through postal ballot. Agarwal, whose net worth is about $3.1 billion according to Forbes, will also need clearance from the regulators in India and the US as well as its creditors and stock exchanges. It will then set a final floor price and initiate a reverse book building process. What are the options for Vedanta's shareholders? For those who are not happy with the price offered by the promoters of Vedanta, not participating in the buyback is an option. "In case the delisting happens at a higher price, they still have the chance to offer the shares in six months post the actual delisting at the same price. In case the delisting fails, the shareholder does not lose anything; the shares are in the demat account and he has the chance to sell them in the market when the buyback offer is close to ending at a much higher price that the indicative offer price," HDFC Securities said. Voluntarily delisting cannot happen if minority shareholders do not sell their share. Who has enough muscle to protest? Big investors like mutual funds, foreign institutions, and the state-owned giant Life Insurance Corporation of India have enough stake to force a bargain. <div type="image" title="vedanta shareholding" msid="75809933" hostid="261" caption="&amp;lt;p&amp;gt;Vedanta promoters need to buy back at least 90% of all the shares in the market. &amp;lt;/p&amp;gt;"></div> "These institutions will expectedly play a role in ensuring that the delisting happens at a fair price which is much above the indicative delisting price of ₹87.50," the report added. <table style="width: 343pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:182pt">Mutual Fund</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 161pt;">Stake in Vedanta</td> </tr> <tr> <td class="xl66" style="height: 26.25pt; border-top-width: initial; border-top-style: none; width: 182pt;">ICICI PRUDENTIAL EQUITY ARBITRAGE FUND</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">5.03%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 182pt;">HDFC INFRASTRUCTURE FUND</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.47%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SBI ARBITRAGE OPPORTUNITIES FUND </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.12%</td> </tr></tbody></table>*Source: BSE What makes Vedanta more attractive is the recent reforms announced by the government, though the benefits will flow in over the long term. Some of the major highlights include: <ul><li>A seamless, comprehensive exploration-mining-production policy will be introduced for non-coal minerals like iron ore, bauxite etc. </li><li>The distinction between captive and non-captive mines and that will help transfer mining leases and the sale of unused minerals. Companies will be allowed to transfer the mining lease. </li><li>The Ministry of Mines is in the process of mineral index. Stamp duties will be rationalised at the time of auction. </li></ul> These policy changes may push investors to expect the shares to be more valuable in the long term and seek better price from Anil Agarwal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/foreign-investors-fpi-sold-shares-despite-modi-20-lakh-crore-stimulus/articleshow/75807397.cms">Foreign investors sold shares worth over a billion dollars in the last four trading days⁠ while India was unveiling it’s ₹20 lakh crore stimulus</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/indusind-icici-bank-hdfc-bank-and-sbi-among-top-10-losers-in-nifty-bank/articleshow/75805726.cms">From IndusInd to ICICI Bank to SBI ⁠— banks were among the worst-hit despite the government pause on new bad loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/share-price-impact-on-hul-d-mart-maruti-tata-motors-as-per-goldman-sachs-china-data/articleshow/75786721.cms">Goldman Sachs’s China recovery data can spark hope for HUL and D-Mart, and make Maruti, Tata Motors and IndiGo more anxious</a>

Vedanta shareholders aren't thrilled⁠— stock slides after Board approved delisting at ₹87.5 a piece

<ul><li>In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian stock market is likely to open in green. In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. The US equities also <a href="https://www.businessinsider.in/stock-market/news/us-stocks-rise-as-investors-weigh-latest-comments-on-stimulus-progress/articleshow/78564147.cms">ended higher on Thursday as investors digested </a>the latest updates to a possible near-term stimulus measure. The Dow Jones Industrial Average gained over 122.05 points, whereas the S&amp;P 500 was up over 0.80%. These are the stocks to watch out for during the trading session on October 9: Future Retail <a href="https://www.livemint.com/news/india/amazon-approaches-singapore-arbitration-centre-over-future-reliance-deal-11602155326101.html">Amazon has approached the Singapore International Arbitration Centre (SIAC)</a> over its dispute with the promoter of Future Retail, Future Coupons. The e-commerce giant Amazon has stepped in and said that Kishore Biyani’s led Future Group violated a contract with it by entering into the sale agreement with Reliance Retail. Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. The shares of Future Retail ended 5% lower yesterday. Vedanta Vedanta’s reverse book building exercise ends today. The company has tendered over 73.76 crore shares in the buyback offer made by promoters to delist the company. A total of 134 crore shares held by public shareholders need to be tendered for the delisting to succeed. The shares of Vedanta ended 4% lower yesterday. Lakshmi Vilas Bank (LVB) Private lender, Lakshmi Vilas Bank (LVB) said it had received an indicative non-binding offer from Clix Group. This came after the bank was in talks for amalgamation with Clix Group, that comprises Clix Capital Services Private Ltd, Clix Finance India Private Ltd and Clix Housing Finance Private Ltd. The shares of Lakshmi Vilas Bank (LVB) ended 7% higher yesterday. Solar Industries Solar Industries said it has bagged an order worth ₹447 crore from the Telangana government for the supply of bulk explosives and initiating systems. The shares of Solar Industries ended 2% lower yesterday. GOCL Corporation The manufacturer of explosives, detonators and special devices for defence and space applications, GOCL Corporation, said its subsidiary received an order worth ₹187 crore from the Telangana government for the supply of bulk explosives. The shares of GOCL Corporation ended 2% lower yesterday. Adani Enterprises Adani Enterprises in a stock exchange filing said it has raised ₹125 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. The shares of Adani Enterprises ended 3% lower yesterday. SBI, HDFC Bank, ICICI Bank, and others Watch out for financial stocks in trade today as the Monetary Policy Committee announced their rate decision and outlook on growth later today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/microsoft-told-employees-it-plans-to-release-a-browser-based-app-for-the-xbox-game-pass-streaming-service-next-year-that-will-get-around-apple-app-store-rules-we-absolutely-will-end-up-on-ios/articleshow/78565167.cms" data-type="tilCustomLink">Microsoft told employees it plans to release a browser-based app for the Xbox Game Pass streaming service next year that will get around Apple App Store rules: 'We absolutely will end up on iOS'</a> <a href="https://www.businessinsider.in/politics/world/news/bidens-campaign-pulled-down-more-than-12-million-during-the-90-minute-vice-presidential-debate-between-kamala-harris-and-mike-pence/articleshow/78565032.cms" data-type="tilCustomLink">Biden's campaign pulled down more than $12 million during the 90-minute vice-presidential debate between Kamala Harris and Mike Pence</a>

Top stocks to watch — SBI, HDFC Bank, ICICI Bank, Future Retail, Adani Enterprises, Vedanta, Lakshmi Vilas Bank, Solar Industries, and others

<ul><li>The 30-share index was trading 1.17% higher, and the NSE Nifty rose 134.10 points at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex rallied over 400 points in early trade on Monday, led by IT, bank and auto stocks. The 30-share index was trading 1.17% higher, and the NSE Nifty rose 134.10 points at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of October 5, 10:00 am These are the top stocks in news today. TCS rallies 5% The shares of IT major TCS rallied over 5% after the company said it would consider a buyback on October 7. The stock surpassed its previous high of ₹2,554 and was trading at ₹ 2,623 at 9:40 am. ITI gains 5% The central government-owned Indian Telephone Industries Limited, commonly known as ITI Limited, soared 5% after it bagged a ₹7,796 crore deal for the supply of Army Static Switched Communication Network (ASCON). Reliance Industries up 1% RIL shares gained nearly a percent after the Mukesh Ambani-owned company cleared yet another hefty cheque from <a href="https://www.businessinsider.in/business/news/reliance-retail-cashes-yet-another-hefty-cheque-mubadala-to-invest-6247-5-crore/articleshow/78430649.cms">UAE-based Mubadala</a> on Thursday. The Retail arm of RIL has also secured a deal with Singapore’s sovereign wealth fund GIC and global private equity firm TPG Capital. The company said GIC would invest ₹5,512 crore for a 1.22% stake, while TPG Capital Management will invest ₹ 1,838 crore in owning a 0.41% equity stake in the retail arm. Vedanta open 2% higher The shares of Vedanta Limited opened 2% higher as the reverse book building process for buyback of shares began today. The company said the process would remain open for public shareholders until October 9. Hero Motocorp up over 2% The shares of two-wheeler giant Hero Motocorp were trading over 2% higher after robust sales growth in September. The company recorded a 17% growth in its sales compared to the same period last year. Solar Industries gained 6% The shares of Solar Industries has gained over 6% after it secured a ₹409 crore order from the central government for the supply of Multi-Mode Hand Grenade (MMHG). Tata Steel gains 5% The shares of Tata Steel gained over 5% after <a href="https://www.financialexpress.com/industry/chinas-steelmaker-jingye-group-may-takeover-tata-steel-uk-expresses-interest-to-parent-tata-group/2097622/">news reports surfaced</a> that China's steelmaker Jingye Group has expressed interest in acquiring Tata Steel UK. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/angel-broking-share-price-chart-stocks-list-at-10-discount-from-the-ipo-price/articleshow/78486411.cms" data-type="tilCustomLink">Weak debut for Angel Broking — shares list at 10% discount from the IPO price</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-tcs-hcl-tech-hero-motocorp-vedanta-solar-industries-iti-and-others/articleshow/78484703.cms" data-type="tilCustomLink">Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others</a>

Top stock movers — RIL, TCS, Vedanta, Tata Steel, ITI, Hero Motocorp and more

<ul><li>At 7:49 am, the SGX Nifty was trading 0.20% down, indicating a lower start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the Asian market, the Indian stock market is likely to open on a muted note. At 7:49 am, the SGX Nifty was trading 0.20% down, indicating a lower start for Nifty50. Whereas other Asain stocks were trading in green — with Hang Seng trading 1.45% higher and Australian stock market also up 2% at 7:50 am. These are the stocks to watch out for during the trading session on October 5: RIL Mukesh Ambani-owned Reliance Industries cleared yet another hefty cheque from <a href="https://www.businessinsider.in/business/news/reliance-retail-cashes-yet-another-hefty-cheque-mubadala-to-invest-6247-5-crore/articleshow/78430649.cms">UAE-based Mubadala</a> on Thursday. This is the fifth investment for Reliance Retail Ventures Limited. Reliance Retail continues to be valued at ₹4.285 lakh crore and has raised a total of ₹24,847.5 crore already. Along with that, Reliance Retail has also secured a deal with Singapore’s sovereign wealth fund GIC and global private equity firm TPG Capital. The company said GIC would invest ₹5,512 crore for a 1.22% stake, while TPG Capital Management will invest ₹ 1,838 crore in owning a 0.41% equity stake in the retail arm. The shares of RIL ended 0.24% lower on Thursday. TCS The IT giant Tata Consultancy Services (TCS) will be considering a buyback of shares of the company at a board meeting slated on October 7. The shares of TCS ended 2% higher on Thursday. HCL Tech IT services major HCL Tech announced a new partnership with IBM on Thursday to help clients accelerate their digital transformation by migrating mission-critical enterprise workloads to the IBM public cloud. The shares of HCL Tech ended 0.26% higher on Thursday. Vedanta The reverse book building process for buyback of shares to begin today. The process will remain open for public shareholders until October 9. The shares of Vedanta ended flat on Thursday. Solar Industries Solar Industries informed investors on Thursday that it has secured ₹409 crore order from the central government for supply of Multi-Mode Hand Grenade (MMHG). The shares of Solar Industries ended 1% higher on Thursday. ITI Limited ITI Limited also informed investors that it had signed a contract with the central government for the supply of Army Static Switched Communication Network (ASCON). The total value of the deal is ₹7,796 crore. The shares of Solar Industries ended 0.12% lower on Thursday. Dhanalakshmi Bank RBI approves an interim arrangement to form a new committee of directors of Dhanalakshmi Bank to exercise the powers of the bank’s MD and CEO till a new one is appointed. The shares of Dhanalakshmi Bank ended 0.81% higher on Thursday. Hero MotoCorp, Eicher Motors and other auto stocks Hero MotoCorp, Eicher Motors and other auto stocks will remain in focus during the trade today after auto companies posted robust sales recovery in September. The sales of two-wheeler giant, Hero MotoCorp was up 17% compared to the same period last year. Eicher Motors also reported a domestic sales growth of 1%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/investors-must-brace-for-a-turbulent-october-in-the-stock-market-but-they-should-hold-on-for-a-strong-4th-quarter-finish-a-senior-wall-street-strategist-says/articleshow/78477243.cms" data-type="tilCustomLink">Investors must brace for a turbulent October in the stock market — but they should hold on for a strong 4th-quarter finish, a senior Wall Street strategist says</a> <a href="https://www.businessinsider.in/thelife/news/the-best-20-airports-in-the-world-for-2020-according-to-expert-reviewers/slidelist/78477301.cms" data-type="tilCustomLink">The best 20 airports in the world for 2020 according to expert reviewers</a>

Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others

<ul><li>The Modi government seems to be hurrying to achieve its disinvestment target for FY23. </li><li>As inflation runs rampant and the Indian government’s growth prospects take a hit, managing the <keyword id="6365485" type="General" weightage="20" keywordseo="fiscal-deficit" source="Orion">fiscal deficit</keyword> could be a prime concern for the government now. </li><li><keyword id="115997" type="General" weightage="100" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword>, a former government company now owned by Anil Agarwal’s Vedanta, is one of the leading companies in zinc, lead, silver and cadmium mining. </li></ul>The Modi government seems to be sprinting towards its ₹65,000 crore disinvestment target for the financial year 2022-23, with a new report claiming that it has approved the offloading its ₹40,000 crore stake in Hindustan Zinc, one of the leading zinc, lead, silver and cadmium mining companies in India. According to a report by <a href="https://economictimes.indiatimes.com/markets/stocks/news/govt-approves-stake-sale-in-hindustan-zinc-says-report-stock-rallies-7/articleshow/91784848.cms">ET Now</a>, the government has approved the sale of its 29.5% stake in Hindustan Zinc, which is worth nearly ₹40,000 crore. The stake sale was challenged in the Supreme Court last year, but the court’s verdict cleared the path for the government to pare its holdings. The shares of Hindustan Zinc hit an intraday high of 7%, and as of 3:00 p.m. today (May 25), the stock was up 5%. <div type="image" title="Hindustan Zinc 01_01_22 to 25_05_22." msid="91788875" hostid="261" caption="&amp;lt;p&amp;gt;Hindustan Zinc share price in 2022&amp;lt;/p&amp;gt;"></div> However, given the bearish market sentiment, it might be prudent to delay the stake sale. Since the beginning of March, Hindustan Zinc has already lost nearly 13% of its value. <cmsannotation type="cmsannotation" annotationid="A sign of things to come?" comment="subhead" text="A sign of things to come?">A sign of things to come?</cmsannotation> Interestingly enough, the government has set a disinvestment target of ₹65,000 crore for FY23. Of this, it has already realized ₹20,560 crore with the <a href="https://www.businessinsider.in/stock-market/news/lic-ipo-check-out-analysts-view-on-whether-to-sell-or-hold-lic-ipo-post-listing/articleshow/91515679.cms">LIC IPO</a> – this is despite cutting down the stake sale from 5% to 3.5%. The LIC stake sale leaves the government with a balance of a little less than ₹40,000 crore – all of which could be realized by offloading its stake in Hindustan Zinc – with more than 10 months left in FY23. The government’s urgency to pare its holdings could be a sign of a bigger problem, which is fiscal deficit. Fiscal deficit refers to a shortfall in the government’s income compared to its spending. The government could be looking at a much higher disinvestment in the current financial year to offset a portion of deficit to keep it within manageable limits. The ET Now report adds that the government could also be looking at paring its stake in consumer goods and tobacco giant ITC. The government currently holds a 7.91% stake in the company, which is worth ₹26,601 crore as of today. <cmsannotation type="cmsannotation" annotationid="RBI’s hawkish stance behind government’s change of mind?" comment="subhead" text="RBI’s hawkish stance behind government’s change of mind?">RBI’s hawkish stance behind government’s change of mind?</cmsannotation> With inflation running rampant, India’s central bank <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">finally shifted</a> its stance from dovish to hawkish by hiking interest rates – meaning, the Reserve Bank of India thinks inflation is a more immediate concern than growth. A hawkish policy – which is what Das and RBI are following now – suggests that higher interest rates help reduce inflation. A dovish policy, on the other hand, favours expansionary monetary policies with low interest rates to boost demand. In his interview, the RBI governor, Shaktikanta Das underlined that he expects the government to be in a position to manage the current account deficit ‘comfortably’. It’s not clear if Das factored in the government disinvesting to keep the deficit under control, but it is something that should become clearer with time. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">India’s central bank confirms another rate hike is coming in June, but promises to soften the blow after the May shocker</a> <a href="https://www.businessinsider.in/business/corporates/news/the-big-boss-of-indias-largest-consumer-company-is-worried-about-stagflation-and-unprecedented-inflation/articleshow/91251341.cms">The big boss of India's largest consumer company is worried about stagflation and unprecedented inflation</a> <a href="https://www.businessinsider.in/retail/news/biscuits-ghee-and-hair-oil-to-get-cheaper-after-government-duty-cut-but-after-three-months/articleshow/91784809.cms">Biscuits, ghee and hair oil to get cheaper after government duty cut — but after three months</a>

Modi government’s itch to offload ₹40,000 crore Hindustan Zinc stake hints at a bigger deficit than initially anticipated

<keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s acquisition of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is the biggest ever in India, with the US-based retail giant spending <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms">$16 billion</a>. But this buyout isn’t the first big takeover we’ve seen in the country. Here’s a list of some of the biggest mergers and acquisitions India has seen. Following are the top 10 acquisitions that happened in India. <ol><li>FLIPKART- WALMART: Walmart acquired 77% Flipkart for $16 billion, making it the largest acquisition involving an Indian company, in 2018.</li><li>TATA STEEL-CORUS: In 2007, <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> took over European steel major Corus for the price of $12.02 billion, making the Indian company, the world’s fifth-largest steel producer. </li><li>VODAFONE-HUTCHISON ESSAR: In 2007, the world’s largest telecom company (at the time) in terms of revenue, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword>, made an entered the Indian telecom market by acquiring a 52% stake in Hutchison Essar Ltd. Vodafone purchased 52% stake in Hutchisson Essar for about $10 billion. </li><li>HINDALCO-NOVELIS: Hindalco Industries Ltd. is a subsidiary of the Aditya Birla Group and Novelis is a world leader in the production of flat-rolled aluminum products. The <keyword id="929276" type="ORGANIZATION" weightage="20" keywordseo="Hindalco-Company">Hindalco Company</keyword> acquired the Canadian company Novelis for $6 billion, making the combined entity the world’s largest producer in rolled-aluminum.</li><li>RANBAXY-DAIICHI SANKYO: In 2008, Daiichi Sankyo Co. Ltd., signed an agreement to acquire the entire shareholders of Ranbaxy Laboratories Ltd, India. Ranbaxy’s sale to Japan’s Daiichi was priced at $4.5 billion.</li><li>ONGC-IMPERIAL ENERGY: In early 2009, Oil and Natural Gas Corp. Ltd (ONGC) took control of Imperial Energy, a UK Based firm operating in Russia for the price of $1.9 billion. </li><li>MAHINDRA &amp; MAHINDRA-SCHONEWEISS: In 2007, Mahindra &amp; Mahindra acquired 90 percent of Schoneweiss, a leading company in the forging sector in Germany. This consolidated Mahindra’s position in the global market.</li><li>STERLITE-ASARCO: In the year 2009, Sterlite Industries, a part of the <keyword id="147780" type="ORGANIZATION" weightage="20" keywordseo="Vedanta-group">Vedanta Group</keyword>, signed an agreement to acquire the copper mining company Asarco for the price of $2.6 billion. </li><li>TATA MOTORS-JAGUAR LAND ROVER: Tata Motors’ acquisition of luxury car maker Jaguar Land Rover was for the price of $2.3 billion, in 2008.</li><li>SUZLON-REPOWER: Wind Energy premier <keyword id="46212" type="ORGANIZATION" weightage="20" keywordseo="Suzlon-Energy">Suzlon Energy</keyword> acquired RePower for $1.7 billion. Suzlon Energy Limited is a wind turbine supplier based in Pune, India and RePower systems SE (now Senvion SE) is a German wind turbine company founded in 2001, owned by Centerbridge Partners. </li></ol>

Here are the top 10 acquisitions to have happened in India

<ul><li>The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indices were trading flat in early trade on Thursday, tracking losses in index majors HDFC twins, ICICI Bank and Infosys amid negative cues from global markets. The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Serv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ultra Chem Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr></tbody></table>*as of November 19, 10:15 am These are the top stocks in news today. TCS up over 2% The shares of Tata Consultancy Services (TCS) soared over 2% after its shareholders approved its ₹16,000 crore share buyback plan. Last month the board of TCS approved a proposal to buyback upto 5.33 crore equity shares at a price of ₹3,000/share. BPCL gains over 3% The shares of BPCL gained over 3% after Anil Agarwal controlled Vedanta Group said that it had submitted an expression of interest (EoI) for buying the government’s 53% stake in oil retailer Bharat Petroleum (BPCL). The shares of Vedanta Group also gained over 5% in an otherwise flat market. Hero MotoCorp leaps 5% The shares of world’s largest two-wheeler maker Hero MotoCorp were up nearly 5% after the company informed stock exchanges that it sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. SpiceJet trades 10% higher The shares of cargo major SpiceJet gained over 10% after the DGCA data showed that its passenger load has increased from 73% in September to 74% in October. SpiceJet holds 13.4% market share in Indian skies. Lakshmi Vilas Bank locked in 20% lower circuit The shares of Lakshmi Vilas Bank were locked in a 20% lower circuit for the second day in a row. According to the bulk deal data available on the BSE, Capri Global Holdings offloaded a total of 20,55,161 shares of LVB at an average price of ₹12.40 apiece. This took the total deal value to ₹2.54 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-tumbles-345-points-as-fresh-lockdown-measures-overshadow-vaccine-progress/articleshow/79292917.cms" data-type="tilCustomLink"> Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms" data-type="tilCustomLink">Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results</a>

Top stock movers — TCS, BPCL, Hero Moto, SpiceJet, Lakshmi Vilas Bank, Tata Steel, M&M, and others

Mumbai, Dec 16 () Vedanta Resources Chairman Anil Agarwal on Monday said if the government reduces its stake in public sector companies and banks to 50 per cent, they will work more efficiently.
 Currently there are 14-15 banks and around 40-45 companies in the country where government has a significant stake.
 "Government has no business to be in the business," Agarwal said during a fire chat at the india economic conclave 2019.
 He said his company acquired four government companies and all of them are three times more productive.
 "Today government holds on an average 87 per cent stake in these companies including banks. If they bring down their holding to 50 per cent they will get USD 1 trillion and become much bigger," Agarwal added.
 He further said even if they (government) give up 5-10 per cent stake in each of the companies to the private sector, it will do much better.
 "When we talk to the government (regarding stake sale) they say we will sell the asset. But what I feel is government should not be revenue minded and should go in a very simple manner and let wealth be created," he added.
 Agarwal further said the government is sitting with the largest and best reserves of oil and gas and coal along with gold and diamond and the country is spending around USD 500 billion for import of resources, which will go up to USD 1 trillion.
 "It is not that the government company can't function very well but it is important that they make them free. So companies that are into oil and gas or those like Coal India can be given to someone else.
 "Even government law says if the government control or holding is reduced to 50 per cent then CAG and all other extra audit goes away and the CEO can work independently. Even the stock markets will appreciate such a move. If we can free all our natural resources companies and even the banks, India will have a positive repercussion of this " Agarwal said.
 He emphasised on the need for reduction of bureaucratic interference in the functioning of the businesses.
 "Bureaucracy still has an interference and that should be reduced. Their job is make policy and not execution. They should only make strategy," Agarwal said.
 He further said the government's role is to govern and have a regulator.
 On the issue of environmental concerns, he said, "we are not even 4.5 per cent of what the US is. We are not even polluting as much as they are. I believe self certification is important. We don't want to go to the government but we should self certify ourselves and if the industry violates any norm then we can be penalised for that," he noted.
 Agarwal further added that whenever the government has entrusted the private sector with any responsibility, they have delivered the best be it in case of airports, telecom or even power. PSK AA DRR

Govt has no business to be in business: Agarwal

New Delhi, Feb 27 () Indian economy will soon bounce back from its worst showing in 11 years as a steep cut in taxes will help attract investments and the massive infrastructure spending revives economic activity, mining baron Anil Agarwal said. Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs. Public sector firms have the potential to produce three-times more than the current output and should be operated independently, he told here. "I think it (economy) will bounce back. It has tremendous potential. I see light at the end of the tunnel, it is not far. The economy will kick start soon," he said adding the rollout of Goods and Services Tax (GST) had a temporary impact but it is being straightened now. Indian economic growth plunged to an 11-year low in the July-September quarter when it clocked 4.5 per cent expansion. The government has forecast a 5 per cent GDP growth for the full 2019-20 fiscal that ends in March but many experts believe the growth rate will be lower than the projection. Agarwal, the founder and chairman of Vedanta, said the government cutting tax on companies to the lowest in the world will attract investment but companies need a little hand-holding to see their projects through. "India has the lowest tax in the world and a natural place for investments to come in. If somebody wants to do business in a democratic country, India is the best place," he said. The government in September last year cut the corporate tax rate to 22 per cent from 30 per cent and in the budget for 2020-21 announced reduction in personal income tax rates for those who were willing to give away present exemptions and rebates. "When you start a project anywhere in the world, the government makes sure the project is completed. In India, you are left alone." Apart from environmental norms, all other regulations for businesses must be relaxed, he said. Also, a free hand must be given to producers of natural resources such as oil and copper as they can then rapidly scale up production and help cut imports, he said. "A free hand to produce will cut short time." Agarwal said India has tremendous resources of gold, copper, oil and other minerals and they should be explored and produced. "Don't hold licenses, auction reserves. As long as government revenues and interest, as well as the environment, are protected, they should allow companies to produce. They should not tell how it is to be produced." India imports oil, gold, coal and copper, he said. "We import 85 per cent of our oil requirement. We import almost 100 per cent of our gold requirement. We import a lot of coal. Today, our imports are close to USD 400 billion. This might increase," he said advocating harnessing the full potential of resources within the country. Besides, the government should sell its stake in public sector companies to allow professional boards to run them. "PSUs have the potential to produce three times more than what they are currently doing. A public sector bank has a valuation of USD 1 billion but a similar-sized private bank would have 10 times higher valuation, why? Because the government bank is being controlled by a bureaucrat. That has to go," he said. He said the massive investment in infrastructure such as road and highways, ports and airports will revive the economy and foreign investors are eager to invest in such projects. ANZ MR

You Searched For "vedanta stake sale" and got 9 results

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