FSL has just filed EGM for a possible raise with JPM as an advisor, and we see stock moving up 30% in last 15 days. JPM was incidentally also the advisor to Genpact-Bain deal and that deal got Genpact $3.3 Bn valuation. That, and newsflow from the space got us out from the earlier gloomy stance.
Wipro Consumer Care & Lighting Ltd’s (WCCLG) Singapore arm is all set to buy the Chinese fast-moving consumer goods company, Zhongshan Ma Er Daily Products Ltd. The amount of the deal is not disclosed, however it is going to be an all-cash transaction.