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More PE firms gearing up for India debut

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Voda Idea shares jump over 11% on UBS upgrade

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[hfe_template id='11223'] [ad_1] Mumbai: Shares of Vodafone Idea soared as much as 11.6% in trading on Friday after brokerage UBS upgraded its rating on the stock to 'buy' from 'neutral'. The brokerage raised its price target on the stock to ₹18, implying an upside of over 19% from Friday's closing. The stock ended at ₹15.11, up 7.5% over the previous day. UBS said it believes the market is pricing in 15-20% mobile tariff increase over the next 12-24 months. "We believe relief in the form of AGR reduction by the Supreme Court or equity conversion, moratoriums etc by the government is highly likely, especially given the government's stated objective of ensuring three viable private telcos," the brokerage said in a note. UBS said Vodafone will benefit the most if that happens and the risk-reward is attractive before such an announcement. The brokerage maintained its 'neutral' ratings on Bharti Airtel and Indus Towers. Analysts and ...

Ashdan, Yash Shares in a duel to acquire Rolta India

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[hfe_template id='11223'] [ad_1] Mumbai: The race to buy the bankrupt defence-focused software company Rolta India has boiled down to a match-up between Pune-based real estate developer Ashdan Properties and Mumbai-based Yash Shares. The National Company Law Tribunal (NCLT) last week dismissed an objection raised by Ashdan to allow Yash's competing bid. "Both bidders have now submitted revised bids to the committee of creditors (CoC), which will now most likely be put to vote after a meeting later this week," a person familiar with the process told ET. No software company showed interest in Rolta India, which was admitted to the bankruptcy court in January last year, because its software has little or no value. The bidders are eyeing its three buildings in Mumbai's Santacruz Electronics Export Processing Zone area, a land parcel in Kolkata, and a few flats in Mumbai that are kept as collateral with banks. Yash Shares, which was among the initial nine re...