Citi Financial News

Emami Group’s AMRI Hospitals for around ₹2,300 crore, a person in the know said. As part of the deal, Manipal will pick up an equity stake as well as assume a portion of AMRI’s debt. In FY23, AMRI reported revenue of about ₹1,000 crore, which will enhance Manipal’s revenues for the year, estimated at ₹4,500 crore, said the person seeking anonymity.

electric vehicle (EV) tech startup MoEVing, said two people aware of the development, seeking anonymity. The potential deal is likely to facilitate Stride’s entry into the last-mile EV financing sector, which is expected to witness significant growth in the coming years. The deal could value MoEVing at ₹100-120 crore and will facilitate early investor JSW Ventures’ exit, they added.

apparel retailers are expected to register a 7-8 per cent revenue growth this fiscal, buoyed by festival and marriage season demand, and despite inflation impacting discretionary spending in the first quarter, according to a report.

Imran Khan has been charged with "criminal conspiracy", which carries a maximum sentence of the death penalty, for «masterminding» the attack on army installations and inciting the people to mutiny, a senior Punjab Police official said on Wednesday. Pakistan saw massive nationwide anti-government protests following the arrest of Khan, the Pakistan Tehreek-e-Insaf (PTI) chairman, by paramilitary Rangers in a corruption case on May 9.

Narendra Modi is set to flag off the Tirunelveli – Chennai Vande Bharat Express Train on Sunday via video conference. The first train will reportedly leave from Tirunelveli Junction around noon and reach the capital city in about 7.5 hours. The train will arrive at its starting location on Thursday for mandatory trials ahead of the launch event.

Check out the companies making headlines in midday trading.

Competition Commission of India (CCI) on Wednesday said it has approved the stake acquisition by Blackstone and TPG in Quality Care India Ltd (QCIL). QCIL is a multi-speciality healthcare provider, which operates a network of multi-speciality hospitals under the brand name 'CARE Hospitals' in several cities across the country. According to two separate releases, CCI said it has approved the acquisition of about 72.49 per cent and 24.16 per cent stake in Quality Care India Ltd by BCP Asia II and Centella Mauritius Holdings Ltd, respectively.

DMK Minister V Senthil Balaji, who was arrested by the Enforcement Directorate earlier in connection with a money laundering case in June. Dismissing the petition, Principal Sessions Judge S Alli said an earlier bail application filed by the petitioner on June 14, 2023 was dismissed by this court two days later.

Pep Guardiola's consideration due to their injuries, and now Portuguese midfielder Bernardo Silva has suffered an injury. With this, the injury problem of Manchester City has soared to a new height. Though the City have scored a 3-1 win over Red Star Belgrade in their Champions League opener on Tuesday, Silva was forced off before the halftime. He signed a one-year extension last month and this will keep him at City until 2026.

John Wick spin-off series, 'The Continental,' is set to hit screens on Peacock. This series takes us back in time to explore the origins of Winston Scott and his takeover of the iconic hotel featured in the movies.

Netflix was ordered by a federal judge to face a defamation lawsuit by best-selling author and former Manhattan prosecutor Linda Fairstein over her portrayal in a 2019 crime drama about the Central Park Five case. US District Judge Kevin Castel on Tuesday said Fairstein plausibly alleged that Netflix, director Ava DuVernay and writer-producer Attica Locke acted with actual malice as to five scenes in «When They See Us.»

AMRI Hospitals Ltd. The acquisition fits into the growth strategy of Manipal Hospitals to have a larger footprint and expanded presence in eastern India as the largest hospital chain in that region, stated a company release. “Manipal Hospitals always had patrons from eastern India and countries in the region like Bangladesh. This acquisition is in sync with our objective to further strengthen our presence and serve the patients in Eastern India — an underserved area when it comes to healthcare," said Dr. Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG).

Ventive Makers Circle, offers a place for designers, artists, entrepreneurs, and other creative folks to work together, advance their knowledge, and develop. Modern tools are available in the area, along with a range of activities and initiatives that promote creativity and innovation. The Ventive Makers Circle is dedicated to building a welcoming and accepting community for artists.

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: an Outperform initiation for IBM, and upgrades for Pinterest, Royal Caribbean , Carnival, and Methanex.

Check out the companies making headlines before the bell.

By Jonathan Stempel

As weekends approach, more and more people are opting for road trips using services like Zoomcar, DriveU, and QuickRide during the period leading up to the festive season. Simpl, a payment platform, has reported that the number of bookings on these merchant platforms, made through its one-tap checkout, has doubled in August this year compared to the same time in 2022. Reportedly, out of the different ways to travel, more and more people are choosing to rent self-driven cars.

rapper Shubhneet Singh, popularly called Shubh, doesn't seem to stop as his India tour has been abruptly cancelled by BookMyShow, the online ticketing platform. This decision follows intense controversy and allegations of Shubh's alleged support for Khalistani elements, triggering a wave of backlash and demands for the tour's cancellation. The cancellation of Shubh's 'Still Rollin Tour for India' was confirmed by BookMyShow in a statement released on Wednesday. While the statement did not explicitly mention the reason behind the cancellation, it seems to be a response to the growing allegations against the rapper. BookMyShow tweeted, «Singer Shubneet Singh's Still Rollin Tour for India stands cancelled. To that end, BookMyShow has initiated a complete refund of the ticket amount for all consumers who had purchased tickets for the show.

Reliance Jio launched the Jio AirFiber on September 19 weeks after Bharti Airtel's introduction of India's inaugural wireless home. With Jio AirFiber, the company promises to bring an integrated end-to-end solution for home entertainment, smart home services and high-speed broadband, across 8 metro cities. Ambani explained during the 46th AGM that their extensive optical fiber network connects them to over 200 million locations. The Jio AirFiber devices are aimed at providing last-mile connectivity to many parts of India. “Our extensive optical fibre presence puts us in close proximity to over 200 million premises. Yet, providing physical last-mile connectivity is a painstaking process in most parts of our country. This is where Jio AirFiber, our fixed-wireless broadband offering, comes in,” Ambani said at Reliance’s 46th AGM.

Jio AirFiber – could create a whopping $4 billion to $9 billion annual revenue opportunity if it sees wide acceptance of around 50-to-100 million homes, say analysts. They added that the current pricing of Jio AirFiber is not disruptive versus competition as rival Bharti Airtel’s comparable 100 Mbps 5G-FWA offering is at a 12% discount, albeit without digital channels and OTT apps. While Airtel’s FWA service is at a 33% premium to Jio AirFiber’s base plan of Rs 599 a month, it offers faster speeds of 100 Mbps compared to 30 Mbps on Jio’s. “Jio has ambitious plans with Jio AirFiber, with a target of 200 million homes…if there is wide acceptance of 5G FWA with bundled home entertainment services, it could be a significant revenue opportunity, especially as (home) broadband average revenue per user (ARPU) at Rs 600, is 3-4x higher vs mobile,” brokerage CLSA said in a note. A 5G-based FWA service uses airwaves instead of cables/fibre to provide fixed broadband access, using a next-gen mobile broadband technology.

International Cricket Council (ICC) have confirmed three major USA cities: Dallas, Florida and New York, as the venues for the ICC Men’s T20 World Cup 2024. The USA is set to host the T20 World Cup for the first time, with Grand Prairie in Dallas, Broward County in Florida and Nassau County in New York chosen as the venues for the grand event.