NEW DELHI: The domestic equity market is likely to see a negative start on Friday, tracking Nifty on Singapore Stock Exchange (SGX) and weak global cues. The brokerage said the company is a unique way to play India’s retail growth story and is positive on the company due to its strong operational performance, scalability and robust cash generation. It expects the company to record a CAGR of 15 per cent in revenue, 16 per cent in EBITDA and 37 per cent in PAT between FY18 and FY20. This means nonbinding offers will not be considered, a setback for Malaysia’s IHH and China’s Fosun. They had both submitted nonbinding offers and sought time to conduct due diligence.

Source: Economic Times April 20, 2018 02:45 UTC