New Delhi, Sep 6 (IANS) Tata Consumer has said it is not in negotiations to seek control of snack maker Haldiram’s. In a clarification, Tata Consumer said it is not in negotiations with Haldiram’s as reported in media reports.
“We are not aware of any information that has not been announced to the Exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015”, Tata Consumer said.
“We would like to add that the Company evaluates various strategic opportunities for growth and expansion of the business of the Company, on an ongoing basis. The Company will make appropriate announcements in compliance with the obligations under SEBI (LODR) Regulations, 2015, as and when any such requirement arises,” it said.
Tata Consumer stock price jumped up 4 per cent to Rs 879 on BSE.
Media reports had mentioned that Tata Group’s consumer unit is in talks to buy at least 51 per cent of popular Indian snack food maker Haldiram’s but is not comfortable with the $10 billion valuation sought.
Haldiram’s is also talking with private equity firms including Bain Capital about the sale of a 10 per cent stake, the reports had said.
Tata Consumer Products, which owns the UK tea company Tetley and has a partnership with Starbucks in India, is negotiating the stake purchase, the reports said.
Haldiram’s has almost 13 per cent share of India’s $6.2 billion savoury snack market.
Goldman Sachs cuts US recession chances to 15%
New York: Goldman Sachs’ economists slashed the 12-month recession probability estimates for the United States to 15%, citing positive trends in inflation and the labor market.
The investment banking titan previously assigned a 20% probability of the U.S. entering a recession and noted that a recession has occurred roughly once every seven years since WW2.
It’s also important to highlight that Goldman’s new estimate stands in stark contrast to the Bloomberg consensus, which stands at 60%.
“We are also substantially more optimistic than most other forecasters in terms of our baseline GDP growth forecast, which averages 2% through the end of 2024,” the economists said in a report.
One of the key factors fueling Goldman’s bullish view on the U.S. economy is that underlying inflation may already be near the Fed’s target.
Goldman expects the Fed to “very gradually” cut rates, starting with a 25bp rate cut in the second quarter of 2024.