Stocks to Watch: Reliance Industries, JSW Steel, Zee, Trent, Vodafone Idea
Reliance Industries: The consolidation of Walt Disney's and Reliance's media assets in India, valued at $8.5 billion, could trigger rigorous antitrust examination due to their combined market influence. Legal experts are raising red flags about the merged entity's robust cricket broadcasting rights portfolio and its potential effects on advertisers.
The merger would position Disney-Reliance as India's top television entity with 120 channels, significantly ahead of its nearest competitor, Zee, which has 50 channels. Analysts predict that the majority stakeholder, Mukesh Ambani's Reliance, will command a 35% share of India's television viewership.
India's anti-trust watchdog is expected to scrutinize the overall television landscape closely, with particular attention to cricket rights, as they assess the market share and power of the newly formed entity. JSW Steel: The Sajjan Jindal-led steelmaker announced on Friday that it intends to invest €143 million (approximately ₹1,282 crore) to aid the revival of its steel mill in Piombino, Italy.
The company announced in a press release that its subsidiary, JSW Steel Italy SRL, has signed a Memorandum of Understanding (MoU) with Italian authorities for the site’s relaunch, adding that the investment will be utilized to double its current rail production capacity from 300,000 tonnes to 600,000 tonnes per annum. Sajjan Jindal, chairman of JSW Group, said, “The €143 million investment will modernize the rail mill at Piombino." Zee Entertainment Enterprises: Culver Max, the Indian arm of Sony Group, has contested the validity of Zee Entertainment's appeal for merger enforcement at the National Company Law Tribunal (NCLT) in Mumbai.
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