Top Arranger Says India IPOs to Raise $30 Billion Over 12 Months
Around 150 firms are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country's top arranger for equity deals this year, said in an interview. 'The pace of IPO filings is robust, and it reflects the deepening confidence of issuers in India's capital markets,' he said.
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Yahoo
30 minutes ago
- Yahoo
PPG, Asian Paints renew India joint venture in 15-year agreement
Agreement builds on successful partnership in one of world's fastest growing economies PITTSBURGH, August 04, 2025--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced the extension of its joint venture agreement in India with Asian Paints Ltd. The 15-year renewal will allow the companies to continue serving the country's industrial, protective, marine, packaging, automotive and powder coatings customers with industry-leading solutions that solve customers' biggest challenges. The extension will take effect in 2026 and run through 2041. "We are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market," said Tim Knavish, PPG chairman and CEO. "This decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region." The partnership was established in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd., to service the automotive, refinish, marine and consumer packaging markets. It was expanded in 2012 with the formation of a separate 50-50 joint venture, Asian Paints PPG Private Ltd., to service the protective and powder coatings market. Both joint ventures will continue to leverage PPG's technical expertise and global footprint. PPG will continue to have management control of PPG Asian Paints Private Ltd., and Asian Paints Ltd will have effective management control of Asian Paints PPG Private Ltd. to best utilize the companies' respective strengths. To learn more about Asian Paints Ltd., visit To learn more about Asian Paints PPG Ltd., visit About Asian Paints Limited Asian Paints is India's leading paint and decor company and ranked among the top eight coatings companies in the world with a consolidated turnover of ₹ 33,797 crores (₹ 338 billion) with a market capital of approx. ₹ 2,276 billion. Asian Paints, along with its subsidiaries, have operations in 14 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 60 countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Décor products and is the leading player in the Integrated Décor space in India. To learn more, visit PPG: WE PROTECT AND BEAUTIFY THE WORLD® At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers' biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.8 billion in 2024. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc. CATEGORY Corporate View source version on Contacts Media Contacts:Greta Edgar BorzaPPG Corporate Communications+1 724 316 7552edgar@ Parag RaneAsian Paints Ltd.+91 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNET
31 minutes ago
- CNET
Spotify Raises Premium Subscription Price Globally (but Not in the US -- Yet)
For many global customers, the cost of streaming their favorite music on Spotify is about to have a bigger impact on their wallets. The music streaming service announced that it's raising the monthly price of a premium subscription to 11.99 euros ($13.87) starting in September. Spotify said that the 1 euro price hike would affect markets in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region, but did not list the countries impacted. The price for US-based subscribers will not go up -- for now at least. That likely won't last -- the company raised the price by a dollar in 2023 and another dollar in 2024. It now costs $12. Spotify did not immediately respond to a request for comment on whether it planned on raising US prices for Premium subscriptions. In its announcement Monday, Spotify said it was introducing the price increase "so that we can continue to innovate on our product offerings and features, and bring you the best experience." The announcement gave a shot in the arm to Spotify's share price during Monday's trading, with a nearly 7% increase in the stock price at the NYSE. The share price had dropped 11.5% on July 29 after the company's profit forecast fell below what analysts had predicted.
CNBC
32 minutes ago
- CNBC
Stocks making the biggest moves midday: Figma, Joby Aviation, CommScope, Wayfair & more
Check out the companies making the biggest moves midday: Figma — The design company tumbled 22%, giving back a chunk of its IPO gains from last week. Figma began trading at the New York Stock Exchange on Thursday, with the stock more than tripling in value on its first day. On Friday, shares gained another 5%. Fortrea — The pharma company rallied more than 21% following a Baird upgrade to outperform. "This isn't about near-term numbers or Q2 or even 2025, this is about the long-term compounding opportunity. We anticipate being here for the long game," Baird said. Idexx Laboratories — The health-care diagnostics company reported second-quarter results that beat expectations, sending shares higher by 26%. Idexx earned $3.63 per share on revenue of $1.11 billion. Analysts polled by FactSet expected a profit of $3.30 per share on revenue of $1.07 billion. American Eagle Outfitters — Shares surged nearly 20% after President Donald Trump called the retailer's campaign with actress Sydney Sweeney the "'HOTTEST' ad out there." American Eagle has faced backlash over the campaign, with critics deeming it sexist and tone deaf. TG Therapeutics — Shares dropped almost 15% after the biotech company reported second-quarter earnings that missed the mark. TG Therapeutics reported earnings of 17 cents per share, while analysts polled by FactSet expected a profit of 21 cents per share. Joby Aviation — The electric aircraft maker rallied 20% after announcing it will acquire Blade's passenger business for $125 million. "This is a strategically important acquisition that will support the successful launch of Joby's commercial operations in Dubai, our subsequent global rollout and our continued leadership in the sector, " said Joby CEO JoeBen Bevirt in a statement. The deal is expected to close "in the coming weeks," the company said. Berkshire Hathaway — Class A shares of Warren Buffett's conglomerate dipped about 3% after Berkshire's operating profit fell 4% year over year to $11.16 billion in the second quarter, affected by a decline in insurance underwriting. Buffett's cash hoard of $344.1 billion remained near a record high. The conglomerate was a net seller of stocks for an 11th quarter in a row. Amphenol — The cable parts supplier rose 3% after agreeing to acquire CommScope's connectivity and cable solutions business for $10.5 billion in cash. The sale is expected to close within the first half of 2026. Shares of CommScope surged 75%. Loews — Shares added 2% after the insurance company reported second-quarter earnings of $1.87 per share, higher than its year-ago profit of $1.67 per share. The company's last-quarter revenue of $4.56 billion also marked a 7% rise from its year-ago sales of $4.27 billion. Energizer — The stock jumped 24% after the battery manufacturer reported a revenue beat for its third quarter and raised its full-year guidance. Energizer now anticipates adjusted earnings between $3.55 to $3.65 per share for the full year, up from its prior guidance of $3.30 to $3.50 a share. That's above the consensus estimate of $3.37 per share, according to FactSet. Wayfair — The furniture retailer surged 11% after it blew past Wall Street expectations for the second quarter. Wayfair reported adjusted earnings of 87 cents per share on $3.27 billion in revenue, while analysts polled by FactSet anticipated 33 cents per share and $3.13 billion, respectively. Tyson Foods — The maker of Ball Park franks and Jimmy Dean sausage advanced 4% after fiscal third-quarter adjusted earnings of 91 cents per share topped the 80 cents per share estimated by analysts surveyed by FactSet. Revenue of $13.88 billion also came in above the expected $13.54 billion. On Semiconductor — The semiconductor maker dropped 11% after issuing lackluster third quarter guidance of 54 cents to 64 cents per share, while analysts polled by FactSet anticipated 58 cents per share. The lower end of expected revenue of $1.465 billion to $1.565 billion fell short of the consensus estimate of $1.50 billion. On Semi met earnings expectations and topped revenue estimates in its second quarter. Bruker — The maker of scientific instruments for molecular research shed nearly 6% after lowering fiscal-year earnings and revenue guidance. Bruker expects earnings to reach $1.95 to $2.05 per share, down from a previous range of $2.40 and $2.48 per share. Bruker also trimmed its revenue guidance to a range of $3.43 billion to $3.5 billion, down from the prior $3.48 billion to $3.55 billion. Spotify — Shares gained 6% after Spotify said it would raise the price for its premium individual subscription in several markets. Tesla — The electric vehicle stock added 1.7% after Tesla's board approved a compensation package for CEO Elon Musk consisting of 96 million shares of restricted stock valued at a total of about $29 billion. — CNBC's Lisa Han, Alex Harring and Yun Li contributed reporting.
