#1. Rosneft to supply Russian crude to Reliance for 10 years in deal worth $13 billion per year
Russia’s state-owned Rosneft oil company will supply up to 500,000 barrels per day of crude oil to Reliance Industries, the Business Standard reported. The 10-year agreement amounts to 0.5 percent of global oil supply and is valued at $13 billion per year.
Why it’s important: This is the in the largest ever energy deal between India and Russia. It will ensure stability in crude oil flows to the country that is heavily dependent on imports for its energy needs.
#2. Australia’s Macquarie seeks to sell highways stretches at combined valuation of $2 billion
Australia-based Macquarie Asset Management is looking to sell its largest Indian road portfolio of nine national highway stretches at a combined valuation of around $2 billion, the Economic Times reported. Macquarie will begin the sale process by early next year and will appoint a banker by the end of December.
Why it’s important: Highway assets in India has been attracting investor interest in recent months. Macquarie is an early entrant to the segment and seeks to monetize road projects with handsome returns.
#3. KKR to buy $50-75 million stake in Rebel Foods at valuation of nearly $860 million
Private equity firm KKR is set to buy Rebel Foods shares worth $50-75 million from existing investors, valuing the startup at nearly $860 million, the Mint reported. The deal will be a secondary transaction, with existing investors Peak XV and US investment firm Coatue selling shares. The development comes after the Mumbai-based cloud kitchen firm announced a $210 million funding round led by Singapore's Temasek.
Why it’s important: Early-stage food brands are in demand from venture investors, with multiple companies having raised funding in recent months. Cloud kitchens have been seeing robust growth, with more Indians ordering food through online apps.
#4. Chinese smartphone companies expanding operations in India as tensions thaw
With a thaw in India-China relations, Chinese smartphone companies are slowly expanding their operations here, investing again in brand promotion, appointing distributors and getting deeper into manufacturing, the Economic Times reported. Companies such as OnePlus, Xiaomi, Vivo and Oppo are again spending on above-the-line marketing, putting up hoardings and bringing in Indian brand ambassadors.
Why it’s important: Although there is a feeling that the worst is over, Chinese firms are moving cautiously after facing intense scrutiny in India since 2020 over charges of money laundering and tax evasion, curbs on new investments, seizure of assets and, in one case, arrest of top executives.
#5. Samsung accuses competition regulator of unlawfully seizing data and detaining employees
Samsung has accused India's competition watchdog of unlawfully detaining its employees and seizing data in a raid carried out in connection with an antitrust investigation on Amazon and Walmart's Flipkart, the Business Standard reported. It is seeking to quash the probe findings related to conduct of the company.
Why it’s important: It is uncertain whether the accusation will hold water in the courts. The Competition Commission of India has challenged similar injunctions and last week asked the Supreme Court to rule on the matter, saying the companies are trying to scuttle its investigation.
#6. Paytm Payments Bank holds Rs 1,400 crore in deposits after filing compliance report to Reserve Bank
Paytm Payments Bank continues to hold a little over Rs 1,400 crore in customer deposits at the bank, which are parked in government securities and deposits with the RBI and other banks, the Hindu Businessline reported. The bank continues to have nine crore customers who hold savings, current or wallet accounts.
Why it’s important: The banking regulator in January imposed severe business restrictions on the lender on alleged regulatory breaches and barred it from offering incremental banking services. It is unlikely that it will be able to function as a bank any longer.
#7. Sterlite Power raises Rs 725 crore to expand global products and services business
Power transmission player Sterlite Power is raising Rs 725 crore for its global products and services business from GEF Capital Partners and ENAM Holdings, the Business Standard reported. Sterlite hived off its GPS business in October, which marks the first fundraiser for the new business.
Why it’s important: The global decarbonization wave, rapid electrification and green energy growth have led to unprecedented demand in many power products and supply is struggling to catch up. There is a business opportunity for Indian firms to capitalize on.
#8. Piramal Alternatives to invest Rs 185 crore in Pune-based healthcare consulting firm
Piramal Alternatives, an investment vehicle backed by the Ajay Piramal Group, has entered into an agreement to invest up to ₹185 crore through convertible instruments in Pune-based healthcare consulting and revenue cycle management provider 3Gen Consulting. The money will be utilized to expand 3Gen Consulting’s service offerings.
Why it’s important: The private healthcare space in India is expanding rapidly, which has attracted considerable interest from investors. Tertiary healthcare services firms are also expected to have a share in the expanding pie.
#9. Trade in index options plunges by 30 percent after regulatory measures to curb speculation
In the week ended December 6, the first under the new regulatory regime of just two weekly expiries, the number of index options traded plunged 30 percent to 2.14 billion contracts, the Mint reported, citing data from the National Stock Exchange and BSE. It compares with 3.04 billion weekly Nifty and Sensex, and monthly Bank Nifty and Finnifty options traded in the week ended November 29.
Why it’s important: The options frenzy among India’s retail investors may be beginning to cool as regulatory measures to prevent widespread losses begin to take effect. The market regulator has imposed measures to curb excessive speculation in this segment.
#10. Smaller entities take battle of quick medicine deliveries to bigger players like Flipkart and Swiggy
As Flipkart and Swiggy prepare to add medicines to their quick delivery portfolios, relatively unknown entities such as Medino's, Medstown and Plazza have started 30-minute services in smaller cities and are looking to raise funds to expand and take on the giants, the Mint reported.
Why it’s important: The quick delivery of medicines is becoming a competitive battleground in India, with companies like Swiggy, Zepto, Flipkart, Tata 1mg, and Apollo entering the space. Smaller firms will find it tough to compete with the biggies.
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