By Ameya Karve What’s in a name? A lot, if it’s Thomas Cook. When London-based Thomas Cook Group Plc collapsed under a pile of debt on Monday, investors beat down the shares of an unrelated company thousands of miles away in India, ignoring multiple clarifications that it isn’t in any way related to the U.K. firm. Thomas Cook India Ltd. resorted to a communication blitz -- exchange filings, statements to the media and advertisements in local newspapers -- in the past few days to clarify that the collapsed U.K. firm exited the Indian company seven years ago. Even so, the stock was trading down 3.7% as of 1:57 p.m. in Mumbai on Monday, set for the biggest drop in a month and compared with a 3.2% gain in the main index. The U.K. firm’s shares slumped 23% on Friday, before it filed for insolvency. The relatively limited decline in Thomas Cook India reflects “how the company did a good job in communicating to the market that it is no more associated with … [Read more...] about Thomas Cook collapse hits shares of Indian company it once owned
After the entry of Reliance Jio in the telecom sector, the Indian market has witnessed immense competition among service providers. The recent announcement of a tariff hike comes as a relief to these companies as it will improve the finances of these companies.Moneycontrol's Sakshi Batra does a 3-Point Analysis to decode the implications of the tariff hike. She also lists out stocks that investors can look at in the sector.To know more, what the video.Close Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about 3-Point Analysis | Which telecom companies should investors look at?
In one of the most aggressive campaigns seen in the Indian two-wheeler segment, Chinese motorcycle manufacturer CFMoto will be carpet bombing the segment by launching one new model every three months.The launches will begin after the introduction of BS- VI norms in April 2020.The product line-up includes premium motorcycles, budget motorcycles, electric motorcycles, electric scooters and even electric bicycles and all-terrain vehicles (ATVs). The company will start electric launches from 2020 onwards, a top company official told Moneycontrol.Close CFMoto is even prepared for investments for setting a manufacturing plant in India if sales volumes breaches its internal target. The company will aggressively price its products to challenge local heavyweights like Hero Motocorp and Bajaj Auto, starting with a planned reduction in its existing model range. related news Kiran Mazumdar Shaw settles alleged insider trading case with Sebi in Infosys matter Fiat Chrysler to recall … [Read more...] about Chinese company CFMoto plans to storm Indian market; to go head-to-head with Bajaj and Honda
Video PlayerClose XINING, April 12 (Xinhua) -- More than 1,000 domestic and foreign companies are attending a tourism festival, which opened Friday in northwest China's Qinghai Province. The Qinghai culture and tourism festival will last from April to July. The Northwest China Tourism Marketing Conference, lasting from Friday to Sunday, is a major part of the festival. With an exhibition hall covering 28,000 square meters, the conference has attracted participation of 1,268 companies in cultural and tourism sectors from across China and nearly 30 countries and regions. More than 5,000 people are expected to join the conference, and over 10,000 contracts will be signed, according to the organizers. Besides the conference, a series of forums will also be held during the festival. The festival is jointly hosted by departments including Qinghai culture and tourism department, Qinghai provincial bureau of press, publication, radio, film and television and Qinghai provincial bureau of … [Read more...] about Qinghai tourism festival attracts over 1,000 domestic, foreign companies
On Wednesday, US-based Invesco-Oppenheimer Developing Markets Fund agreed to pick up 11 per cent stake in Zee Entertainment Enterprises, the flagship media company of Subhash Chandra’s Essel Group. The fund will pick up the stake for a consideration of Rs 4,224 crore, and the purchase will increase its shareholding in the company to 18.7 per cent. Zee Entertainment said that proceeds from the stake sale would go towards paying off loans worth Rs 13,000 crore that the Essel group has across various group companies, particularly in infrastructure, and will also help avert a looming default of Rs 7,000 crore of payments to mutual fund investors in September. The “Essel Group had initiated the process of divesting its key assets, with an aim to repay all the lenders by September 2019,” the statement said. Why did investors show interest? This announcement comes days after the company announced a nearly 40 per cent jump in its profit at Rs 512 crore on a revenue of Rs … [Read more...] about Explained: What Zee stake sale means to media company, and investors