Monday, September 28
IPO-bound Manipal Health Enterprises is leading the race to acquire Sahyadri Hospitals with a Rs 6,838 crore ($800 million) bid, people familiar with the matter said. It is trailed closely by Blackstone, they said.While the sources did not reveal the financial terms of the global investment firm’s offer, the strong interest in the Pune-headquartered hospital chain owned by Canada’s pension fund Ontario Teachers’ Pension Plan (OTPP) is symptomatic of the high-intensity consolidation ongoing in India’s hospital space. IHH Healthcare-backed Fortis Healthcare and EQT Partners also submitted bids on June 23, which was the last day to submit binding financial bids.122147222‘Uncompetitive’ OffersTheir offers were termed “uncompetitive” by people ET spoke with. Manipal, Blackstone,
As benchmark indices hit a nine-month high in the last week of June, traders are looking to ride the bullish wave. A look at some of the stock futures that have seen higher-than-average rollovers to the July series and poised to move up further.HPCL CMP: Rs 439 Change in Open Interest in July Series: 9% Change in Price in July Series: 4.3% Decline in crude oil prices has supported oil marketing companies move higher, said Chandan Taparia, head of technical and derivatives research at Motilal Oswal Financial Services. “The stock has seen meaningful long additions on Friday and has been making higher lows for the last 4 trading sessions,” he said. The stock also gave a consolidation breakout after 35 long weeks. Traders can buy the contracts with support at Rs 425 for an upside target to
ET Intelligence Group: India Inc's interest coverage ratio hit a 12-quarter high of 5.8% at the aggregate level in the March 2025 quarter helped by margin improvement and lower interest expenses. It has shown improvement in two quarters in a row after hitting a low of 4.8% in the September 2024 quarter. The ratio, which is obtained by dividing operating profit (EBIT) by interest expense, reflects a company's ability to service outstanding debt; higher the ratio, the better it is. The data pertains to a common sample of 2,658 companies that have declared results for each of the past 13 quarters excluding banking and finance companies. In March quarter, companies in select sectors reported improved profitability owing to benign raw material costs. The sample's operating margin rose by 110 bp
