Praja Rajyam Party chief and film star Chiranjeevi is to meet Congress chief Sonia Gandhi on Monday afternoon to discuss the merger arrangements between the two parties.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
HDFC Bank Q1FY24 results analysis: Shares of HDFC Bank, the world's seventh largest financial entity, have advanced 2 per cent in two days, as against 1 per cent rise in the benchmark S&P BSE Sensex, after the lender reported its April-June quarter (Q1) results for financial year 2023-24 (FY24) on July 17. The S&P BSE Bankex index, meanwhile, has gained 1.3 per cent. While the near-term stock performance may remain sideways due to merger-related hiccups, analysts remain bullish on the stock's long-term prospects.
Anup Sheth and two others had filed applications, objecting to the merger scheme in the present form. The objectors had demanded that high court should order inquiry by Securities and Exchange Board of India, Reserve Bank of India and other financial governing bodies before sanctioning the merger.
Federal Bank Ltd on Monday said it has decided to call off its proposed merger with Lord Krishna Bank Ltd.
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore (Rs 150 billion).
Telangana Rashtra Samiti President K Chandrasekhar Rao has ruled out the possibility of his party merging with the Congress on Monday. After the merger of Telgu superstar Chiranjeevi's Praja Rajyam Party with the Congress on Sunday, rumours were abuzz that TRS will do the same.
Bihar CM Nitish Kumar said the decision of the merger has already been taken and there was no question of going back on it.
Should the anti-defection law in India exist only to prevent democratically elected governments from being toppled?
Several of the mutual fund schemes have plans like dividend, growth and bonus.
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
State Bank of India on Tuesday ruled out physical merger of its associate banks with itself in the near future but said "virtual merger" of the entities was on.
Roger Federer called on Wednesday for a merger between the men's ATP Tour and the WTA, which runs the women's circuit, as tennis wades through a lengthy coronavirus shutdown with lower-level professionals in deep financial crisis. The tennis season was suspended in March due to the COVID-19 pandemic and the hiatus will continue at least until mid-July, depriving lower-level players, who depend solely on tournament winnings, of the chance to earn a living.
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
To ensure faster recovery of dues for entities hit by the Rs 5,600-crore (Rs 56-billion) fraud at NSEL, the government last month ordered the merger of the bourse with its parent firm Financial Technologies (India) Ltd.
Paving the way for a merger between Arcelor and Mittal Steel, an overwhelming majority of shareholders of the Luxembourg-based firm on Friday voted down a merger proposal from Russia's Severstal.
Merger of state-run banks should be done with a view to bring in good synergies, on mutual interests of the concerned entities and government will not compel the consolidation process on individual banks, Financial Services Secretary, R Gopalan said at Bancon conference in Mumbai.
Net foreign direct investment (FDI) in India, inflows minus outflows, declined sharply in April-August this year to $2.99 billion from $18.03 billion in the same period last year on moderation in global activities and a rise in repatriation. The Reserve Bank of India's data (October 2023 bulletin) said FDI in India was $7.28 billion and FDI by India, that is money invested abroad from the country, was $4.28 billion in April-August 2023. As for 2022, FDI in India was $22.79 billion and FDI by India was $4.76 billion in April-August.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
Supreme Industries Ltd plans a merger of Siltap Chemicals Ltd with the company.
The government on Thursday approved the merger of Indian Oil Blending Limited with the Indian Oil Corporation saying the merged entity is likely to achieve higher long-term financial returns than could be achieved by the companies individually.\n\n
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
Finance Minister Arun Jaitley will take a final call on whether to break the tradition of presenting a separate Rail Budget, by merging it with the General Budget.
A crucial meeting of the Telangana Rastra Samithi to decide the political future of Telangana will be held on Tuesday at Hyderabad. Sources say that the popular mood in the party is that they should not merge with the Congress. Vicky Nanjappa reports.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
Jain Irrigation Systems Ltd okayed merger of Jain Processed Foods Pvt Ltd with the company.
RJD President Lalu Prasad Yadav said on Sunday that the merger of six Janata Parivar parties to counter the BJP has already "happened".
There are several discussions going around in the e-health sector for consolidation with key players being PharmEasy, 1mg, Medlife and Netmeds. According to reports, Reliance Jio is in talks with Netmeds to acquire the latter.
Himachal Futuristic Communications Ltd holders approved the merger of HFCL Trade-Invest Ltd with the company.
We have to ensure that mergers do not substantially reduce competition and consumer choice, says Indian Finance Minister P Chidambaram.
The proposed merger of Federal Bank and Catholic Syrian Bank may be delayed, following the announcement of dates for general elections. All major political parties, especially the Congress, seem to be sympathising with the Thrissur Arch Diocese of the Catholic church, which is vehemently opposing the merger move. Since the church has quite an influence in parliamentary constituencies such as Thrissur, Chalakudy, all political parties are supporting the anti-merger move.
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a regulatory filing. This is in accordance with the approval granted by the shareholders of the HDFC at the 45th annual general meeting held on June 30, 2022, it said.
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Country's biggest lender State Bank of India had proposed merger of five associate banks.
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
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