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IT services stocks offer value despite AI concerns, says Mahindra Manulife Investment
Krishna Sanghavi, Chief Investment Officer - Equities at Mahindra Manulife Investment Management, favours private banks, manufacturing, capital goods and defence, citing policy support, corporate investment and India's shift towards bottom-up growth. Sanghavi added that upstream oil and gas companies with volume growth also remain attractive.
SIS announces share buyback worth up to Rs 120 cr
SIS Limited, a prominent security and facility management firm, has announced its fifth share buyback program, aiming to repurchase shares worth up to Rs 120 crore. This move, priced at a 10% premium to its recent closing price, will bring the total capital returned to shareholders since 2017 to approximately Rs 720 crore.
UBS sees MOFSL entering structural growth phase; starts coverage with 'Buy'
Improving revenue mix, along with higher capital efficiency, UBS believes, could support a structural re-rating of the stock towards premium asset management and wealth management multiples
Bill Ackman's Pershing Square offers to buy Universal Music for nearly $65 billion: Report
Pershing Square Capital Management has proposed a combination with Universal Music Group NV that would move the listing into a US-based acquisition vehicle in a deal that Bill Ackman’s fund said will value the world’s biggest music label at a 78% premium to its last closing price.
Billionaire-backed Kotak Bank open to deals as CEO touts capital
Kotak Mahindra Bank is exploring acquisitions to deploy its surplus capital and expand its scale, CEO Ashok Vaswani said. The lender has a strong capital position, with a capital-to-risk ratio of 22.6%, allowing it to consider even deals above $1 billion, though it will assess whether targets fit its strategy, valuation and management focus.