Snippets for 28-July-2017

Thought for the day

"People forget how fast you did a job - but they remember how well you did it."

-- Howard W Newton

Term of the Day: ESOP

An Employee Stock Option Plan (ESOP) is a benefit plan for employees which makes them owners of stocks in the company. ESOPs have several features which make them unique compared to other employee benefit plans. Most companies, both at home and abroad, are utilising this scheme as an essential tool to reward and retain their employees. Currently, this form of restructuring is most prevalent in Startup where manpower is the main asset.

Truly, Hercules!

The Air Force station at Panagarh in Bardhaman district got its first set of multi-skilled transport aircraft C-130J Super Hercules manufactured by Lockheed Martin of the United States.

Two C-130J have arrived very recently, while the station — named after Marshal of Air Force Arjan Singh — is awaiting the arrival of four more under a month. The six medium-lift capability C-130J will complete the first squadron of six such aircraft in eastern India.

The giant C-130J Super Hercules is described as one of the finest transport aircraft which can perform many duties simultaneously, according to various international aircraft reviews. The fuel-efficient aircraft can carry a load of up to 40 tonnes; can move faster and provide higher crew comfort compared to Ilyushin-76 [I L 76] of Russia, which was used by the Air Force for a long time.

M&A deals India – January 2017 to June 2017

  • India M&A deal value in the first half of this year has reached USD 29.2 billion, an all-time high since 2001, according to Mergermarket report.
  • The January-June period of this year attracted 181 deals worth USD 29.2 billion, 56.7 per cent higher compared with the corresponding period last year and even surpassed the first half 2012 level which was the historical high for deal making in India, the global deal tracking firm said.
  • Sector wise, the industrials and chemicals sector saw 30 deals worth USD 1.6 billion during the first half of 2017, an increase of 38 per cent in deal value and the deal count increased from 26 to 30 in the same period of 2016.
  • According to Mergermarket Intelligence, paint sector in India may see a lot of M&A activities in the medium term, due to the growing urbanisation and increasing disposable income for the middle class.
  • The consolidation among the e-commerce sector intensified in India. Tencent Holdings, eBay and Microsoft Corporation's USD 1.4 billion purchase of Flipkart for a 12.07 per cent stake topped the deals table in the first half of this year.
  • Another noteworthy deal was Chinese market leader Alibaba's USD 252 million acquisition of 4.3 per cent in One97 Communication that owns Paytm.

Companies Act (Amendment) Bill, 2016

  • The Lok Sabha has passed the Companies Act (Amendment) Bill, 2016 that seeks to make significant changes to the 2013 law to remove complexities and improve ease of doing business, strengthen corporate governance standards and prescribes strict action against defaulting companies.
  • The bill was passed with a voice vote, with over 40 amendments moved by Arjun Ram Meghwal, minister of state for finance and corporate affairs.
  • The bill will now go to the Rajya Sabha.

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