Cars are moving into the fast lane for Tata 15 Mar 2024 Autos were once group Chair Natarajan Chandrasekaran’s top headache. Now he’s splitting $43 bln Tata Motors into commercial and passenger vehicles. That's doable because luxury unit Jaguar Land Rover no longer burns cash. The rejig paves the way for more dealmaking too.
Ambani wedding puts new spin on Indian business 4 Mar 2024 CEOs of BP, Brookfield and Meta were among those attending Anant Ambani’s pre-nuptials bash in Jamnagar, Gujarat. Rich families are answering premier Narendra Modi’s call to shun overseas extravaganzas. For India, the prize goes well beyond the $50 bln marriage industry.
Make in India can dial up Chinese characteristics 1 Mar 2024 India's $300 bln electronics dream is stuck on low-end work like assembling iPhones. To climb the manufacturing ladder, it can improve market access for its neighbour's firms in exchange for expertise. That will require officials to lower tariffs and open up to Chinese investment.
Post-crisis Adani is cranking up his IPO factory 29 Feb 2024 Indian tycoon Gautam Adani is on a comeback from a short-seller attack that stress-tested his $200 bln empire. In this Viewsroom podcast, Breakingviews columnists explain how the spotlight impacted his group and look at the next crop of listed companies it is set to produce.
Disney gets second mouse role in Reliance show 29 Feb 2024 The duo are merging their Indian TV and streaming assets into a $8.5 bln joint venture. It's a welcome end to an unnecessary distraction for Disney boss Bob Iger. After forcing the US firm into missteps, Mukesh Ambani's Reliance is winning control of a powerful entity at a steal.
India’s startups will no longer price perfection 22 Feb 2024 Fintech firm Paytm and online educator Byju’s were two of the country's hottest tech companies but their valuations have been crushed and they are flailing around. Bad governance is to blame. The upshot? Investors will receive the coming wave of fundraisings and IPOs cautiously.
Kotak’s boardroom rejig hints at succession pain 20 Feb 2024 Four months after Asia’s richest banker Uday Kotak anointed an ex-Citi veteran and outsider to take over his $41 bln bank, the new boss is ceding part of his role to a snubbed insider. It’s a messy, indecisive and reactive development at India’s most richly valued big bank.
Adani is a gift that will keep on giving 14 Feb 2024 Its flagship company is a top coal trader and is incubating new businesses from green power to airports. That will soon produce a wave of IPOs. Asia's richest man will keep testing and shaping India's $4 trln stock market for years to come.
Hyundai’s India IPO will crush Korean discount 9 Feb 2024 A Mumbai listing of its local unit at a $30 bln valuation would secure an earnings multiple many times its parent. Proceeds will fuel blistering growth and enable Hyundai to cut more deals. It rarely makes sense to float subsidiaries but this plan looks more than roadworthy.
India needs less Tesla, more Toyota 6 Feb 2024 Hybrids - like those made by the Japanese marque - are taxed as luxuries, at a far higher rate than pure electric vehicles. As global EV sales growth falters and companies around the world slam the brakes on investments, India has fresh reason to level the playing field.
Paytm’s smackdown has a full and final feel 1 Feb 2024 The payments bank of India’s top fintech has been barred by the regulator from receiving deposits. The reputational damage may prompt other lenders to pull back from working with the loss-making $6 bln company. It makes Warren Buffett’s recent painful exit look well-timed.
Sony enters a painful new M&A season in India 23 Jan 2024 The Japanese giant is ditching the agreed union of its Indian unit with $3 bln broadcaster Zee. Sony dodges a difficult partner but it will prolong the slugfest in the country's cutthroat entertainment industry. The plot could thicken and disrupt rival Disney's dealmaking too.
Red Sea oil tension may revive Russia-Saudi spat 22 Jan 2024 Exchanges of fire between Yemen’s Houthis and the US military have hiked costs for Moscow to ship oil via the Suez Canal to China and India. One upshot could be Russia loses market share to Saudi Arabia. That may reopen the sort of tensions that led to the duo’s 2020 price war.
Davos holds up funhouse mirror to shifting world 22 Jan 2024 Delegates from the Middle East and India made a splash at last week’s World Economic Forum, reflecting their wealth and investment appeal. Europeans and Chinese were subdued. Big Tech looks the winner from AI. This year’s Swiss conflab arguably exaggerated more than it distorted.
Ola IPO will drive Indian EVs back to the future 19 Jan 2024 The SoftBank-backed e-scooter maker is revving up to go public at a mooted $8 bln valuation. The deal, plus a burgeoning home market, marks a moment reminiscent of an earlier mania for Chinese upstarts like Nio. Investors hoping for a similar ride, though, may be disappointed.
Ahmedabad will be India’s next Silicon Valley 21 Dec 2023 So will Mysuru, Jaipur and Coimbatore. Global firms are leaning on employees in India to execute more complex tasks. They’ll find a cheaper, reliable workforce beyond the country’s traditional tech hubs. The rise of AI will see more cities become the workplaces of the world.
Polls may imperil emerging Asia’s policy stability 18 Dec 2023 India and Indonesia have had a decade of relative predictability under leaders Narendra Modi and Joko Widodo. Elections in 2024 could upend that and undermine the lofty valuations of local stock markets. Global investors, and 1.7 bln people, should temper expectations.
Gautam Adani can afford a smile about crisis year 15 Dec 2023 The tycoon’s empire has pared huge stock price losses after a short-seller attack in January. Some questions remain, but the saga is emerging as a win-win. In many ways, Hindenburg Research did Adani and India a favour, while enabling opportunistic investors to make a fortune.
Poll wins dangle prospect of rich Modi third term 4 Dec 2023 India’s ruling BJP beat expectations in state elections. Premier Narendra Modi seems strong heading into the national vote. Though an unreliable predictor, the results will enthuse those looking for policy stability and hard-to-reach reforms in the world’s fifth largest economy.
US and India’s strengthening bond is weak on trust 30 Nov 2023 New Delhi reacted soberly when the Justice Department linked a government official to a murder plot on US soil. It highlights the duo’s deepening financial and strategic ties. China and growing trade links give President Joe Biden reasons not to get too tough, for now.