Latest news with #IndranilSarkar
Zawya
22-05-2025
- Automotive
- Zawya
India's Bajaj Auto to take control of KTM with $906mln debt deal
India's Bajaj Auto plans to take control of KTM AG as part of an 800 million euro ($906.2 million) debt package aimed at reviving the troubled Austrian motorcycle maker, it said on Thursday. The move will see the 'Pulsar' motorcycle manufacturer, which has been a minority investor in KTM since 2007, shift from a dormant stakeholder to a strategic lead, aligning governance and injecting fresh capital to restore KTM's operations. KTM AG, which develops and sells motorcycles under the KTM and Husqvarna brands and exports to around 80 countries, filed for court restructuring proceedings in November amid severe liquidity issues. Its creditors are set to receive 30% of their claims in cash by May 23. As part of the restructuring, Bajaj Auto has already infused 200 million euros in KTM and will deploy an additional 600 million euros to settle creditor claims and restart the business. Bajaj will acquire a controlling stake in its unit Pierer Bajaj AG and indirectly take control of KTM's parent, Pierer Mobility AG. KTM and Bajaj jointly develop products in India. Bajaj Auto holds a 37.5% stake in the KTM business via its unit. How much its stake would rise to after the deal was not immediately clear. Bajaj Auto did not immediately respond to a Reuters request for comment. ($1 = 0.8828 euros) (Reporting by Meenakshi Maidas and Indranil Sarkar in Bengaluru; Editing by Mrigank Dhaniwala)
Yahoo
29-04-2025
- Business
- Yahoo
Longest foreign buying spree in nearly two years powers Indian markets
By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Foreign investors extended their longest buying spree since July 2023 on Monday, fuelled by U.S. trade deal hopes, cheap corporate valuations, and India's relative resilience to global tensions, helping markets shrug off concerns over India-Pakistan frictions. Foreign portfolio investors (FPIs) pumped about $4.11 billion into Indian equities over the last nine sessions, lifting the benchmark Nifty 50 index by 6.6% for the period. The main reason for FPIs coming back into Indian markets is that the U.S. and China are more vulnerable to a global trade war than India, which is projected to still remain the fastest growing large economy in fiscal year 2026, said G Chokkalingam, founder and head of research at Equinomics Research. Markets have also shrugged off fears of an escalation in tensions between India and Pakistan after a deadly militant attack in Kashmir last week, which initially sapped risk sentiment. Analysts also said that expectations of a U.S.-India bilateral trade deal could attract further portfolio inflows the near term. U.S. Treasury Secretary Scott Bessent said on Monday that many top trading partners made "very good" tariff proposals, but one of the first deals to be signed would likely be with India, adding that a deal could be sealed as early as this week. Foreign interest in Indian shares is also being driven by attractive large-cap valuations and strong earnings from heavyweights like Reliance Industries, alongside a tactical shift in flows between China, India, and the U.S., said Kranthi Bathini, director of equity strategy at Wealthmills Securities. The recent foreign buying in Indian shares follows sustained outflows worth $25.3 billion between October 2024 and March 2025 due to high valuations, moderating earnings, growth and global trade uncertainty. As of Monday's close, the Nifty traded 7.4% below all-time high levels hit on September 27, 2024. ($1 = 85.0940 Indian rupees) Sign in to access your portfolio
