The venture is applying to the Reserve Bank of India for approvals.
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
In India, bond yields have fallen nearly 70 basis points in the last one year.
Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
Ten of top 15 companies in 1991 were PSUs; now, there are only six. Their revenue share has also fallen from 86% to 45%
The founders of Gland Pharma, led by Ravi Penmetsa, and KKR, together own 96 per cent of the company.
Tata Steel (then Tata Iron and Steel), the most valuable index company in 1991, is now the least valuable.
Government-owned companies are more generous in rewarding their shareholders with dividends.
Most of the index heavyweights are yet to declare their results.
Shares of most European banks are down significantly.
Ahmedabad-based firm to fund deal through equal amount of equity and debt.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
Unlike last year, investors turn cautious on e-commerce sector.
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
The numbers in India may not be as big but the opportunity for serious growth is all there.
The Indian indices also offer one of the lowest dividend yields.
This analysis is based on the quarterly earnings for 724 companies.
If financials and oil sectors were removed, India Inc has done quite well.
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