Throughout its 155 minutes, every scene is doused in blaring background music and melodrama. Disappointment alone won't do, it must feel like a full blown catastrophe, observes Sukanya Verma.
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.
The coming weeks are sure to have a lot of drama unfolding in Maharashtra, predicts N Sathiya Moorthy.
The proposal gains significance because the merger plan was given a quiet burial under former telecom minister A Raja.
OPS said he was being "forced" to come up with such an announcement.
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.
Federal Bank Ltd on Monday said it has decided to call off its proposed merger with Lord Krishna Bank Ltd.
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.
The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
Ambuja Cements' announcement that it would acquire Hyderabad-based Penna Cement Industries could be the Adani Group company's first step for wider inorganic expansion, according to analysts.
According to a source SoftBank is in favour of Ola acquiring the Indian unit of Uber, but the finer details of the deal are being discussed
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.
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).
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.
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
Bihar CM Nitish Kumar said the decision of the merger has already been taken and there was no question of going back on it.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
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.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Several of the mutual fund schemes have plans like dividend, growth and bonus.
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.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
BJP MLA Madan Dilawar and BSP national secretary Satish Mishra had approached the division bench on Tuesday appealing against the single-judge bench order.
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.
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
Jain Irrigation Systems Ltd okayed merger of Jain Processed Foods Pvt Ltd with the company.
Himachal Futuristic Communications Ltd holders approved the merger of HFCL Trade-Invest Ltd with the company.
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
Weakness in HDFC Bank's net interest margin (NIM) might have bottomed out in the July-September quarter (Q2-FY24), analysts said on Tuesday, as most of the merger-related one-time adjustments have been done. The bank, they believe, should be able to grow from here on, allowing the stock to reverse its underperformance. "The weak NIM print was not unexpected given the merger and regulatory impact caused by the incremental cash reserve ratio (ICRR; 5-10 bps for the quarter).
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.
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FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
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.
With the Bharatiya Janata Party falling short of a majority in the Lok Sabha and needing the National Democratic Alliance partners to form the government at the Centre, Bihar Chief Minister and Janata Dal-United head Nitish Kumar and Telugu Desam Party's N Chandrababu Naidu have emerged as potential kingmakers.
RJD President Lalu Prasad Yadav said on Sunday that the merger of six Janata Parivar parties to counter the BJP has already "happened".
