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.
The government is working on a proposal of a mega merger of country's three leading financial institutions IDBI, IFCI and IIBI.
Anil Ambani has won Lebanon-based M1 Chief Executive Officer Azmi Mikati's approval for a possible merger of Reliance Communications and South Africa's MTN Group following a meeting between the two.
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).
Panneerselvam also remained firm on his faction's demand for a probe into late J Jayalalithaa's death.
Finance Minister Jaswant Singh on Tuesday ruled out the merger of IDBI with IFCI in the near future and said all efforts would be made to restore the state of health of these organisations. \n\n
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
Reliance Industries, the country's most valued company, is delaying its annual general meeting this year following non-receipt of approvals for merger of Indian Petrochemicals with itself.
The Securities and Exchange Board of India on Thursday proposed consolidation of regional bourses to form a bigger entity 'Indonext' or a merger with either BSE or NSE, as part of the ongoing capital market reforms.
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.''
The actor said the "clown's cap" was now being foisted on the head of Tamils and urged them to "erupt".
The coming weeks are sure to have a lot of drama unfolding in Maharashtra, predicts N Sathiya Moorthy.
New entity is likely to get a top-up of $200 million from a Chinese investor
The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
Telesys Software Ltd's board approved the merger of subsidiary companies Aavishkar Software Ltd, Scribe Solutions P Ltd, Sun Java Solutions P Ltd, and Millenium Web Solutions P Ltd. with the company.
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 filing their objections against the Air India-Indian Airlines merger with the corporate affairs ministry on August 31, the unions of Indian Airlines are now planning to take the matter to court.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
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.
Let's take a look at some of the biggest M&A deals in the world.
Mahindra Forgings Ltd on Thursday said the proposed merger of its three subsidiaries with the company will propel it to the position of second largest forging player in the Indian market.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
The meeting to approve the merger of Udaipur-based BoR with the country's largest private sector lender ICICI Bank got off to a chaotic start.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
The discussions, if successful, would see the German major owning a majority stake of nearly 60 per cent in the combined entity, while the rest would be with NYSE Euronext.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Reliance Energy Ltd said on Thursday it has got shareholders' approval for the merger of Reliance Energy Ventures Ltd with itself.
The government on Tuesday told the Rajya Sabha that it has not received any formal proposal for merger of Sahara Airlines with Jet Airways, leading to protests by Left members who asked the minister to clarify on the matter.
Two Anil Ambani group companies, Reliance Power and Reliance Natural Resources, on Monday said their respective shareholders have approved merger between the two entities, estimated to create a Rs 50,000-crore (Rs 500 billion) entity.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
The Reliance-Anil Dhirubhai Ambani Group on Friday announced a tentative schedule for merger of two firms transferred from Mukesh Ambani group.
Chinese steel industry has for the first time openly expressed concern over the merger of global steel giants, Mittal with Arcelor saying it posed "great challenge" for the domestic industry.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
'We are the real Shiv Sena and we will remain in the Sena.'
The merger process started four years ago, with the acquisition of Satyam in April 2009.
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
