Mauritius Financial News

21.07 / 06:16

markets Sustainability Morningstar Research Healthcare trends performer FPIs invest Rs 30,772 cr in equities in July so far

investors injected Rs 30,772 crore into Indian equities so far this month, driven by hopes of continued policy reforms, sustained economic growth and a better-than-expected earnings season. Additionally, the anticipation of a reform-oriented budget has also lifted investor sentiment, Himanshu Srivastava, Associate Director — Manager Research at Morningstar Investment Research India, said. Going forward, if the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

18.07 / 10:05

UPS Cooper Healthcare country medicines rights India's first overseas Jan Aushadi Kendra inaugurated in Mauritius

India's first overseas Jan Aushadi Kendra in Mauritius, testifying the «close» bilateral cooperation, especially in the key health sector. Jaishankar was in Mauritius on a two-day visit from June 16 to 17, one of the first countries he visited in his current term as External Affairs Minister. On Wednesday, he jointly inaugurated India's first overseas Jan Aushadi Kendra with Mauritian Prime Pravind Kumar Jugnauth, «testifying to the close cooperation between our countries, especially in the important sector of health,» the Ministry of External Affairs said in a statement. Jan Aushadhi Kendras have been set up to make affordable generic medicines available to all.

13.07 / 10:21

UPS Booking President country reports travelers Indians up their game on foreign vacations with luxury hotels, formula 1 drives and epic train rides

luxury hotels and other experiences than they used to. These include journeys literally to the ends of the earth, Formula 1 drives and epic train rides across continents. For instance, bookings by Indians at the Four Seasons Mauritius rose 50% in 2023 from 2022, said general manager Martin Dell. «The trend continues to be positive in 2024. Our multi-bedroom private retreats are very popular among family travellers looking to have a memorable vacation in the privacy of their pool villas,» he said. Adding to the property's lure is Indian restaurant Chatkar.

13.07 / 00:56

markets security Enterprise Research Trade reports Investigations Hedge fund’s secret Adani short revealed in blow-by-blow account

A fresh war of words between the short seller — Hindenburg Research — and India’s markets regulator has thrown up an intriguing cast of characters behind the scathing report and related bets against the Adani Group that wiped out as much as $153 billion in market value last year.

12.07 / 14:43

security WhatsApp Moodys reports Greenko arm cancels dollar bond issue, to tap bank loans

Greenko Mauritius, a subsidiary of Greenko Energy Holdings, has decided not to proceed with its planned dollar bond issuance that had sought to refinance a $425-million bank loan. The company, which is into renewable energy sources, will now seek alternative bank borrowing instead, Fitch Ratings said, while withdrawing the 'BB' rating assigned to the proposed bond. Initially, the proposed notes, rated 'BB' by Fitch and 'Ba2' by Moody's, were expected to price a 3.5-year bond under 7%. However, earlier this year, Greenko Mauritius deferred the bond due to interest rate volatility. The $425-million bridge loan remains outstanding and is due by September 30, 2024.

12.07 / 12:29

Citi BLOCK Citizens security Pool Equality International Mint Explainer: How easing NRI caps in Gift City funds will boost fund launches

Asset management companies (AMCs) in Gift City, Ahmedabad, are set for a major boost following a crucial regulatory change by the Securities and Exchange Board of India (Sebi). By eliminating the restrictive 50% cap on investments from Indians abroad in India-focused funds, Sebi has removed a significant hurdle that has long impeded the growth potential of these funds. For years, AMCs faced a stringent requirement: for every dollar accepted from non-resident Indians (NRIs) and overseas citizens of India (OCIs), an equivalent dollar had to be sourced from foreign investors.

29.06 / 02:47

markets UPS BLOCK Citigroup WhatsApp Fidelity funds sell Rs 1,788-cr HCL Tech shares

MUMBAI: The US-based Fidelity Investments’ funds have offloaded shares in HCL Technologies worth 1,788.27 crore in a block deal on NSE Friday. More than 1.24 crore shares were sold at 1,440.5 each, amounting to 0.46% of the total shares of the company. ICICI Prudential Mutual Fund was the single largest buyer at 1,001 crore, followed by Morgan Stanley Asia Singapore PTE and Citigroup Global Markets Mauritius fund. Shares of HCL Technologies closed 0.42% up on NSE at 1,461 Friday.

27.06 / 00:57

BLOCK BlackRock Southern Trade reports International FIH Stocks in news: Inox Green, Titagarh Rail, India Cements, Dr Reddy's, Bharti Airtel

shares of Inox Green, Titagarh Rail, India Cements, Dr Reddy's, Bharti Airtel among others will be in focus due to various news related developments. Inox Green Energy Ace investor Ashisk Kacholia has invested Rs 40 crore in Inox Green Energy Services as part of the latter's Rs 1,050 crore fund raise plan.

26.06 / 13:27

BLOCK WhatsApp FIH Fairfax Group to sell a 9.72% stake in CSB Bank via block deal

FIH Mauritius Investments is likely to sell a 9.72% stake in CSB Bank on Thursday through block deals to raise about Rs 595 crore. According to the term sheet issued by the banker IIFL, FIH Mauritius is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of Rs 352.4 per share. The floor price represents a 1% discount to Wednesday’s closing price of Rs 355.95. FIH held a 49.72% stake in the bank as of March 31, 2024, which will be reduced to 40% post the stake sale. Shares of CSB Bank have declined 15% so far this year compared to the Sensex's gain of 9%.

22.06 / 19:13

WhatsApp Boxing Research students Experts Universities Schools 'Research' now key to get into top global schools

research. Besides grades, extra-curricular activities, and self-studying online courses from reputed institutions, doing research while in school is vital for getting admission in top universities abroad, various study abroad experts said. Piyush Kumar, regional director, South Asia and Mauritius, at IDP Education, said Ivy League institutions seek students who go the extra mile by engaging in «super curricular» activities like entrepreneurship ventures, startups, small businesses and writing research papers.

22.06 / 12:07

markets Cooper security cover boating GRSE secures export order worth $54 mn from German co for commercial vessels

GRSE) Ltd on saturday signed an agreement with Carsten Rehder Schiffsmakler and Reederei GmbH and Co. KG, a Germany-based shipping company, for the construction and delivery of four multi-purpose cargo vessels. This contract, valued at around $54 million, is set to be completed within 33 months. The official statement from GRSE indicated that there is an option for building an additional four ships in the future. These vessels will each measure 120 meters in length and 17 meters in width, capable of carrying 7,500 metric tonnes of cargo.

20.06 / 03:13

markets UPS WhatsApp WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 crore

WestBridge Capital divested on Wednesday a 1.7 per cent stake in the AU Small Finance Bank for Rs 845 crore through an open market transaction. WestBridge Capital, through its affiliate Westbridge AIF I, sold shares of the Jaipur-based AU Small Finance Bank through a bulk deal on the National Stock Exchange (NSE). As per data available, Westbridge AIF I offloaded 1.30 crore shares, amounting to a 1.75 per cent stake in AU Small Finance Bank.

19.06 / 11:47

markets security WhatsApp General Atlantic, Asia Opportunities V to sell 4% stake worth Rs 830 crore in PNB Housing Finance

General Atlantic and Asia Opportunities V (Mauritius) are likely to sell shares worth Rs 830 crore in the housing finance firm PNB Housing Finance through open market transactions on Thursday, according to the term sheet issued by the bankers. These two funds propose to sell 1.08 crore shares, or 4.16% of the total equity, according to the term sheet.

18.06 / 16:07

UPS Provident security Mobile Indus reports Vodafone Group Plc to sell 9.94% stake in Indus Towers for up to $1.1 billion

₹310- ₹341 per share, valuing the transaction between $996 million and $1.1 billion, according to a term sheet seen by Mint.Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas will manage the sale which is slated to open on Wednesday.Mint had reported on Tuesday that Vodafone Group Plc, which owns 21.5% through various entities in Indus Towers, is looking to sell its stake in the mobile tower provider. Private equity (PE) firm I Squared Capital and alternative investment firm Stonepeak were reported to be in the fray as buyers.Indus Towers is India’s largest telecom tower provider with over 219,736 towers covering all 22 telecom circles.

13.06 / 15:01

Manufacturing Strategy Align electronic Schools rights Consumer electronics startup Indkal Technologies raises $36 million in funding

Consumer electronics startup Indkal Technologies has raised $36 million in a funding round led by Mauritius-based Aries Opportunities Fund. The funding, entirely primary, was the first by the 2020-founded firm and was done at an undisclosed valuation.

10.06 / 15:33

MET Cooper security President country Top leaders from Nepal, Maldives, Mauritius, Seychelles call on President Murmu

President Droupadi Murmu on Monday met top leaders from Nepal, Maldives, Mauritius, and Seychelles and discussed different development-related matters of mutual interest. During her meeting with Nepalese Prime Minister Pushpa Kamal Dahal 'Prachanda', she said Nepal is a priority partner under India's 'Neighbourhood First' policy and conveyed the country's commitment to «further strengthen our unique ties».

10.06 / 01:39

Aware Action Analysis Forbes Trade rap FIH regulatory Share sale by large investors in Paytm, IIFL and Edelweiss before regulatory rap

₹72.03 a share for ₹261 crore, according to a Mint analysis. Less than seven weeks after Pabrai cut his Edelweiss holding by half, RBI on 29 May restricted businesses of its lending and asset reconstruction arms, citing concerns about its lending and accounting practices. Edelweiss shares plunged 11.8% to close at ₹68.35 on 30 May, a day after the regulatory action.

09.06 / 10:03

markets IPO Booking Platform band travelers Features Ixigo IPO: From price band to GMP - here are 10 things to know before you subscribe to the issue

₹333 crore from anchor investors ahead of its initial public offering (IPO) for public subscription.Also read: ixigo IPO to open on June 10; here's what GMP indicates ahead of public issueIxigo is a tech company that empowers Indian travelers to plan, book, and manage their journeys by train, air, bus, and hotel. As the leading Online Travel Agency (OTA) for the 'next billion customers,' ixigo focuses on localized content and app features tailored to the needs of tier II and tier III travelers.

09.06 / 01:29

security Election President Experts country Relationships With neighbourhood leaders as guests, India focuses on Indian ocean region

Sri Lanka, Maldives, Mauritius and the Seychelles to the June 9 swearing in of the next Narendra Modi government reflects the focus on the western and southern Indian Ocean (IOR), where India has been security provider and first responder during crises for decades.

08.06 / 09:45

markets IPO Booking wellness Experts band travelers ixigo IPO to open on June 10; here's what GMP indicates ahead of public issue

₹333 crore from anchor investors ahead of its debut share offer for public subscription.Overall, the company offered 3.58 crore equity shares to 23 funds at ₹93 apiece, for a total of ₹333 crore, it said. ixigo IPO price band has been set in the range of ₹88 to ₹93 per share.ixigo is a technological firm that enables Indian travellers to plan, schedule, and manage their journeys by train, air, buses, and hotels.

07.06 / 17:37

security Election President Diversity track Features place Narendra Modi's oath taking ceremony to take place on June 9; Here's all you need to know

oath of office and secrecy to Narendra Modi and the Union Council of Ministers on June 9 at Rashtrapati Bhavan. Modi is set to begin his third consecutive term as Prime Minister, a historic moment in Indian politics. The ceremony, attended by thousands of dignitaries, will feature extensive security measures to ensure safety.

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