The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
Air India has covered a lot of ground since privatisation and its global coverage will further increase in the years ahead, the airline's chief Campbell Wilson said on Wednesday. He also said the interior refit of the single-aisle fleet, serving domestic and short-haul international destinations, is underway, and will be completed by mid-2025.
The Central Vigilance Commission has directed the Public Works Department of Delhi government to conduct a detailed probe into the alleged merger of properties to expand the 6, Flagstaff Road bungalow and the expenditures incurred on its interiors, Bharatiya Janata Party leader Vijender Gupta said on Saturday.
The subscriber count made JioHotstar one of the largest OTT platforms in the world.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
JioStar, the newly formed joint venture by the merger of Viacom18 and Star India, on Friday announced the launch of JioHotstar by bringing together JioCinema and Disney+ Hotstar streaming platforms. With close to 3 lakh hours of entertainment, live sports coverage, and more than 50 crore users, JioHotstar provides compelling subscription plans tailored to diverse audience needs, starting at Rs 149, the company said in a statement.
The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit announced an agreement in early June to merge and form a unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). Critics have accused it of being a vehicle for the country to improve its reputation as it faces criticism of its human rights record.
India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling $7.2 billion -- the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton Bharat. "This represents a 67 per cent increase in volumes and a 5.4-fold increase in values compared to February 2024, while a 14 per cent increase over the previous month," it said.
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
The Reliance-Disney joint venture's new, rebranded streaming app JioHotstar will offer subscription plans starting at Rs 149.
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
Vistara will be merged with Air India on Monday night, and from Tuesday onward, the Vistara flight code will change from 'UK' to 'AI2XXX'.
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
L&T Infotech and Mindtree on Friday announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding $3.5 billion in combined revenue, according to a statement. The name of the combined entity will be 'LTIMindtree', the statement said. In an all-share deal, L&T Infotech will offer 73 shares for every 100 shares of Mindtree.
Eighteen BJP MLAs were suspended for six months from the Karnataka Legislative Assembly for disrupting the budget session and disrespecting the Speaker. The incident occurred on the last day of the budget session, when the opposition BJP MLAs staged a massive protest over the allocation of a four percent reservation to Muslims in public contracts. The MLAs climbed onto the podium where the Speaker's chair is situated and threw papers at him.
Bank of Baroda, a state-owned bank, in its quarterly update on Friday said its domestic deposits grew 9.23 per cent year-on-year (Y-o-Y) in October-December (Q3FY25) at Rs 11.65 trillion, while advances increased 11.76 per cent Y-o-Y at Rs 9.63 trillion, outpacing deposit growth during the period. Domestic retail advances grew at a robust 19.5 per cent Y-o-Y to Rs 2.43 trillion.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines. "In line with its multi-hub strategy, SIA is currently in confidential discussions with the Tatas to explore a potential transaction in relation to the securities of Vistara and Air India. "The discussions seek to deepen the existing partnership between SIA and Tatas and may include a potential integration of Vistara and Air India," SIA said in a notification to the Singapore stock exchange. SIA owns 49 per cent stake in Vistara and is among the four airlines run by Tata Group.
Dubai-based siblings Jainam and Jivika, the owners of jiohotstar.com domain, have decided to transfer it to Reliance "free of cost", resting speculations on social media platforms. The story of the internet domain name, which grabbed a lot of attention on social media platforms in the recent past, ended with "seva and kindness", according to the duo.
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
'We don't give any guidance about profitability. We have internal targets but we don't discuss them publicly.'
'Along with Blackstone, we would be keen to look at opportunities in the North.'
the largest transactions of the year include the merger of Quality Care India and Aster DM Healthcare valued at $5.08 billion, followed by Bharti Enterprises' acquisition of a 24.5 per cent stake in the BT Group at $4.08 billion, and a family settlement transaction in the Godrej family at $3.5 billion.
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Vistara will operate the last flight under its brand on November 11 and the full-service carrier's operations will be unified with Air India from November 12. The government has given its nod for the foreign direct investment by Singapore Airlines as part of the Air India-Vistara merger. Vistara is a joint venture between Tata Group and Singapore Airlines.
Analysts have largely maintained their positive outlook on HDFC Bank, as the private lender reported in-line results for the October-December quarter (Q3) of the current financial year (2024-25/FY25). They believe the results were 'strong' given the tough macro environment, and relative to peers.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
Media conglomerate Viacom18 Media has become a subsidiary of Reliance Industries effective December 30, 2024, after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares. Earlier, Viacom18 Media had been a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).
The effect of the HDFC-HDFC?Bank merger will be for the bigger space of the Indian financial sector and not just limited to the banking sector. The large finance companies have practically no benefit of regulatory arbitrage. Earlier, such arbitrage between banks and NBFCs was normal. The logic of the merger is very clear - the cost of borrowing of banks is lower.
The country's largest private sector lender HDFC Bank on Saturday said it will grow its loan book slower than the industry in the current financial year (FY25). The move comes as the lender looks to bring down its elevated credit - deposit (CD) ratio to pre-merger levels. "We will bring down the CD ratio faster than what we had anticipated.
Let reason, not emotion, guide your decisions.
Chalapathi, a top leader of the CPI(Maoist) and a key figure in the 2008 Nayagarh armoury attack in Odisha, was killed in a gunfight with security forces at the Odisha-Chhattisgarh border. He was one of 14 Maoists killed in the encounter, which lasted for two days. Chalapathi, who had been a mystery to security agencies for decades, was eventually identified through a selfie with his wife, Aruna, found in an abandoned smartphone. He was considered an expert in military tactics and guerrilla warfare and had played a significant role in expanding the Maoist network in Odisha.
Chief Election Commissioner (CEC) Rajiv Kumar, set to retire next month, plans to spend several months in solitude in the Himalayas. He also expressed a desire to teach underprivileged children, recalling his own humble beginnings. Kumar's tenure as CEC saw him oversee landmark elections, including the 16th Presidential and Vice-Presidential elections in 2022 and assembly elections in 11 states.
Starting November 12, Vistara aircraft will be operated under the Air India banner, to be identified by a special four-digit flight code beginning with "2".
While Angel One and Unifi Capital have obtained the final licence, Jio BlackRock, Capitalmind, Choice International and Cosmea Financial Holdings have received in-principle approvals.
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