30 Under 30 2024

Morning Buzz: Disney-Star could face a downgrade post Zee-Sony merger collapse, India to remain fastest growing major economy till FY25, and more

Here are the top business headlines this morning to get your day started

Salil Panchal
Published: Jan 24, 2024 10:26:15 AM IST
Updated: Jan 24, 2024 10:26:29 AM IST

Morning Buzz: Disney-Star could face a downgrade post Zee-Sony merger collapse, India to remain fastest growing major economy till FY25, and moreImage: Shutterstock

Disney-Star could face a downgrade post Zee-Sony merger collapse

The fallout of the Sony-Zee merger collapse is likely to be felt. Analysts now say Disney Star could see a downgrade estimated at $2 billion from the impact of the Zee-Sony deal. Analysts have already downgraded the Zee stock after reports that the deal was terminated earlier in the week. The Reliance-Disney valuation depends on the ICC TV deal. Reliance and Disney had signed a non-binding term sheet to merge Viacom18 and Disney Star.
(Economic Times)

India to remain fastest growing major economy till FY25

India is likely to remain the fastest-growing major economy in the world in the current year and the next, according to a Reuters poll of economists. This buoyancy will be due to sustained government spending on infrastructure and the central bank is starting to have control over inflationary pressures. The Reuters poll of 54 economists estimated the economy to grow 6.9 percent this fiscal year and then forecast to expand 6.3 percent next fiscal year, the same as in the previous poll.
(Reuters India)

ICICI Bank’s Q3FY24 earnings pushes valuations ahead of rival HDFC Bank

ICICI Bank appears to have moved ahead of rival HDFC Bank, after its better-than-expected earnings in the December quarter. ICICI Bank is now trading at about 2.3x one-year forward price to book value, while that of HDFC Bank is estimated at 2x FY25 price-to-book. The HDFC Bank stock has fallen nearly 15 percent in the past week, while ICICI Bank has gained nearly 2 percent in the same period.
(Hindu Businessline)

Hero MotoCorp exploring launch of e-bikes in coming years

Hero MotoCorp’s first electric motorcycle could be a premium model, priced in the range of Rs4 to 5 lakh. The automaker is likely to showcase its first model in the next two-three years, according to Autocar magazine. Currently, Hero MotorCorp has only one electric vehicle in its portfolio - Vida V1 Pro. The company says it will also expand its range of the Vida electric scooter in FY25.
(Autocar Professional online)

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