The development comes nearly 6 years after Vanguard and Infosys announced a partnership under which the IT firm assumed day-to-day operations, while Vanguard builds a tech GCC in Hyderabad
With the fresh move, Vanguard has now cut Ola’s valuation three times in a row.
Vanguard, which holds 166,185 shares of Ola or about 0.7 percent stake in the company, has pegged the fair value of its stake at $25,038,000, down from its acquisition cost of $51,748,000, the AMC's regulatory filings showed. This implies a valuation of $3.5 billion for Ola against its last private market valuation of $7.3 billion.
Dell Inc postponed its meeting on CEO Michael Dell's USD 24.4 billion buyout offer to July 24, buying time to solicit more proxy votes and drum up more support despite winning shareholders at the eleventh hour.
The larger concentration of the FII money seems to be in the midcap consumer stocks. Jubilant FoodWorks, Marico, Godrej Consumer lead the race in terms of FII ownership
For the first time in the five-year history of his "Million-Dollar Bet" against the "experts" of Wall Street, Warren Buffett is now in the lead.
Facebook`s dismal initial public opening was a product of greed and dangerous investing in "fad" Internet social networks, Vanguard CEO Jack Bogle told CNBC Tuesday.