Blackstone Group is in exclusive talks to acquire a minority stake in Sify Technologies, according to people with knowledge of the matter. The communications infrastructure firm has sought a valuation of around $1 billion to $1.2 billion in a transaction, said the people, who asked not to be identified because the talks were private. It’s unclear what valuation the Blackstone stake purchase will be struck at and talks could still fall apart. Sify’s American depositary receipts rose 6.7 per cent in pre-market trading on Friday in the US. The company had a market value of about $484 million as of Thursday. Representatives for Blackstone and Sify declined to comment.
Blackstone in Talks to Buy Minority Stake in India s Sify
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Volumes jump at Lemon Tree Hotels Ltd counter
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NEW DELHI: Nifty Realty index was trading with gains at 01:22PM (IST) on Tuesday. Shares of Prestige Estates Projects (up 6.17 per cent), DLF (up 4.08 per cent), Godrej Properties (up 3.8 per cent), Phoenix Mills (up 2.85 per cent) and Brigade Enterprises (up 1.98 per cent) were among the top gainers. While Oberoi Realty (down 1.18 per cent) and Omaxe (down 0.21 per cent) were the top losers in the index. The Nifty Realty index was trading 2.85 per cent up at 347.95 around 01:22PM. Benchmark NSE Nifty50 index was up 74.10 points at 14749.8, while the BSE Sensex was up 184.34 points at 49928.66. Among the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the red.