Shares of Zee Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports of capital market regulator Sebi has unearthed a financial discrepancy exceeding USD 241 million (nearly Rs 2,000 crore) in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the BSE. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE.
The government on Saturday issued final guidelines for mergers and acquisitions within a telecom circle with the condition that the market share of merged entity would not exceed 67 per cent.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
Rallis India Ltd's board approved the merger of Siris India Ltd, a wholly owned subsidiary of the company, with Rallis India.
The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the roll out of the national Goods and Services Tax (GST), which replaced the complex indirect tax structure, the centre and states have started work on moving towards a "simpler rate structure in GST" by reviewing the current rate slabs, including special rates and merger of rate slabs. The Group of Ministers (GoM) on rate rationalisation would also review items under inverted duty structure to help minimise refund payout, and review the supply of goods and services exempt under GST with an objective to expand the tax base and eliminate breaking of input tax credit (ITC) chain.
HDFC Bank's market capitalisation (market cap) touched Rs 13 trillion in Thursday's (December 28, 2023) intra-day trades as the largest private sector lender is set to report its sharpest monthly rally in the past two years. At 10:33 AM; HDFC Bank's market cap stood at Rs 13.03 trillion, the BSE data shows. The stock was up 1 per cent at Rs 1,717.90 in intra-day trades on December 29, inching towards its record high of Rs 1,757.80 touched on July 3, 2023.
The merger and acquisition (M&As) transactions have picked up pace in the March quarter of 2024 with 455 deals amounting to $25.6 billion deal value announced. This is a 24 per cent rise in deal volume as compared to Q4CY23, according to PwC India report. This signals a shift from the declining trend observed in 2023, as per PwC India's report Deals at a glance.
BCCI will study the merger in New Zealand and Australia before it decides on combining with the Women's cricket board.
CCI to examine competition part of deals, RBI prudential aspects.
A group of Air India unions on Friday asked Civil Aviation Minister Praful Patel to fix the accountability on those who are "sabotaging" the airlines merger process
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Idea may have to shell out Rs 4,500 crore in cash
Family feuds, in what are essentially family-run outfits, have cast a shadow over the reunification efforts of Janata Party.
The proposed merger of state-owned carriers Air-India and Indian is expected to be completed in the current financial year, Civil Aviation Minister Praful Patel said on Monday.
The finance ministry is believed to have finalised the merger of Kolkata-based Industrial Investment Bank of India with Industrial Development Bank of India
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Loan rates will change at the next reset, while deposit rates will continue till maturity.
"Subject to synergy, subject to reasonable similarity in culture, they (public sector banks) in the next 5-10 years really need to look at consolidation and merger," finance secretary Ashok Chawla said after launching the mobile banking service of Vijaya Bank in New Delhi.
On January 31, the US Federal Trade Commission cleared the merger.
Party sources indicated that there may be a meeting at the party headquarters on Monday where decisions could be made by the Palaniswami camp on the question of the "formal expulsion" of V K Sasikala.
They teamed up with a former AIADMK leader KC Palanisami and appealed to the AIADMK general secretary Edappadi K Palaniswami and Panneerselvam to merge their factions and strive for the united AIADMK's victory in the 2026 assembly election.
PVR-Inox is in an inherently fickle business. If there is a string of flops, the box office collections will be weak. Conversely, Q2FY24, which witnessed several hits, has brought about an upside in revenues. However, the merger has led to market share gains and synergies that helped bring breakeven down to approximately 20 per cent occupancy.
Regulator seeks clarification on transfer of convertible debt after merger
Kumar was speaking to media persons at Patna airport on his arrival from New Delhi.
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
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
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Kotak Mahindra Bank chief Uday Kotak has assured that there will not be "any dramatic" reduction immediately in the number of employees following the merger of ING Vysya Bank.
Investors ICICI Venture and PremjiInvest as well as a lender of Subhiksha Trading Services have objected to the cash-strapped retailer's merger plan with Chennai-based Blue Green Constructions and Investments, in which it acquired a 40 per cent stake in June last year.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
RJD chief Lalu Prasad announced in Patna on Sunday that the merger of the six parties of the erstwhile Janata Parivar was certain and necessary to stop and defeat the communally inclined BJP.
Air India will soon have a new crew management system that will help strengthen rostering rules and enable faster recovery from scheduled disruptions. In a message to the staff on Friday, Air India CEO and MD Campbell Wilson said that in the next two weeks, there will be the CAE Crew Management System that will "strengthen our systems' adherence to rostering rules, improving the tracking of training & qualifications, and enabling faster recovery from schedule disruptions". The new system also comes against the backdrop of concerns flagged by pilots' unions about rostering issues.
Railways to have functional autonomy, bear salary burden
Indian Aluminium Company Ltd vice-chairman A K Agarwal on Wednesday ruled out the merger of the company with its parent Hindalco Industries Ltd.
Even as the unity moves between the two AIADMK factions seem to be going nowhere, former chief minister O Panneerselvam is working on a grand alliance of other Opposition parties, reports R Rajagopalan.
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
