In your interest.
Online Personal Finance Magazine
No beating about the bush.
A few months ago, the media dutifully published a release about a $100 million infusion by legendary investor George Soros into Anil Ambani-owned Big Entertainment for a 3% stake. With that deal apparently in the bag, the company was reportedly talking to other private equity funds, such as Kohlberg Kravis Roberts & Co (KKR), Carl Icahn as well as Japan’s Softbank and Abu Dhabi Investment...
This is not the only time when media reports about the Anil Dhirubhai Ambani Group (ADAG) turned out to be mysteriously wrong. On 18 March 2008, The Economic Times reported that Reliance Energy Limited (REL) “may be close to inking an agreement with India Bulls Real Estate (IBREL) to jointly develop a 6,000-acre multi-product SEZ in Maharashtra’s Raigad district”. A report as precise as that,...
The high-profile television appearances of Prime Securities’ boss, N Jayakumar, give this company a high mindshare among investors and, hence, higher expectations. A few weeks ago, the company had admitted to a mark-to-market loss of Rs23 crore for liabilities on account of investment in securities and a Rs three crore loss in derivatives trading. This declaration happened only after its...