Morning News from India - December 26, 2018

Markets & Economy

  • Sensex closes 180 points up after 700-point swing led by HDFC twins (Livemint)
  • Indian Equities Trade At 100% Premium To Emerging Market Index (Bloomberg Quint)
  • India Has a Banner Year for Deals and Overtakes China as a Favored Target (WSJ)

    Companies and investors alike are betting the world’s fastest-growing large economy—once seen as bureaucratically sclerotic and unpredictable—is turning into a destination that offers opportunity driven by hundreds of millions of consumers. Other deal drivers include industry consolidation, a better bankruptcy system and a growing willingness among owners of large family businesses to cash out.

    In all, mergers and acquisitions targeting Indian companies totaled $93.7 billion this year—up 52% from a year earlier—which is the highest tally since the economy started opening up in the 1990s, according to Dealogic. The value of overseas purchases in India has overtaken those in China. Acquirers spent $39.5 billion in India versus $32.8 billion in China, where growth is slowing and a trade battle with the U.S. is underway.

International Companies

US listed Indian companies