TVS Electronics Ltd board approved a merger with TVS eTechnology Ltd. One TVS Electronics share will be swapped for each eTech share.
In two separate filings, both the companies said a meeting of the board of directors will be held on March 2, to consider and recommend the amalgamation of Reliance Petroleum and Reliance Industries, the country's most valued firm in terms of market capitalisation.
The apex auditor is busy preparing a report on the Air India-Indian Airlines merger and modernisation of airports through public-private-partnerships, both carried out during the previous term of the United Progressive Alliance government.
Meet the CEOs for South Africa's MTN and India's Bharti Airtel. They're the men behind what would be India Inc's largest-ever overseas transaction, at $23 billion.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
Prime Minister Narendra Modi on Tuesday said he had rejected a request of Telangana Chief Minister K Chandrasekhar Rao to join the NDA, after the Hyderabad Municipal Corporation elections in 2020, citing his "deeds".
Based on a petition filed by two individual investors, the court on April 25, issued interim 'status quo' orders on the merger process.
The government on Thursday said it will encourage mergers of public sector banks to create strong entities, which can compete with other world-class banks.
Move to strengthen market share and become more profitable.
Global private equity investor Advent International on Monday said it is acquiring a significant stake in Suven Pharmaceuticals from its promoters, the Jasti family. The PE major said this will be followed with an open offer to acquire 26 per cent more in the listed contract development and manufacturing organisation from public shareholders, and also merge the company with investee company Cohance Lifesciences, as per an official statement. Media reports on a Monday morning pegged the acquisition at Rs 6,300 crore, and that Advent had pipped rival Blackstone for the acquisition.
Communist Party of India-Marxist leader Sitaram Yechury's stand that CPI-M and CPI should merge evoked a mixed response in the two Left parties even as he stressed that the merger would have a 'positive' impact on national politics
RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
"In fact, we are in negotiation with stakeholders including ISL franchisees on the issue," Dhar told reporters at the 11th Convocation of Tata Football Academy (TFA) in Jamshedpur.
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
The domestic equity market, which is on a record-breaking spree, will focus on macroeconomic data announcements, movement in global stocks and the US Fed minutes to get further direction, analysts said. Trading activity of Foreign Institutional Investors (FIIs) will also innfluence investors.From the domestic macroeconomic front, Purchasing Managers' Index (PMI) data for the manufacturing sector will be released on Monday, and that o,f the services sector on Wednesday. Investors, this week, will keenly watch major global market events, icluding the outcome of the Federal Open Market Committee (FOMC) minutes, scheduled to be out on Wednesday.
Sending a clear directive to Global Trust Bank employees to triple their business, its acquirer Oriental Bank of Commerce has set a growth target of 30 per cent for the combined entity at about Rs 80,000 crore (Rs 800 billion) this fiscal.
Emirates Telecommunications of the United Arab Emirates, better known as Etisalat, is in discussion with Reliance Communications for a possible merger or acquisition.
The proposed merger between two state-run telecom giants -- Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited -- might have hit a roadblock, but both the companies plan to synergise their operations across the country.
Google Inc is expected to command more than a third of the world's $140 billion digital advertising spending this year
It also recommended fixing of responsibility on 'agencies and individuals' who took such a 'whimsical' decision and sought 'suitable action' to prevent such 'intangible loss' being caused to a state-run company.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
The world's biggest steelmaker Arcelor Mittal said on Friday it has received a writ of summons to appear before a Dutch court for legal proceedings initiated by Arcelor shareholders seeking an injunction against the mega merger of both the companies.
Such a course would require a Constitutional Amendment, requiring a two-thirds majority in both Houses of Parliament. Even assuming that the INDIA combine comes to power at the Centre next year, a two-thirds majority in the Lok Sabha could way off the mark for them, observes N Sathiya Moorthy.
Unlike the new private sector lenders, BoR employees' wages are still governed by the industry wage package negotiated by the Indian Banks Association with bank staff unions.
From the Sensex pack, State Bank of India, HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv were the major gainers.
Strategic deals like the one involving the HDFC twins accounted for a bulk $126 billion of the overall quantum, while transactions involving private equity funds stood at $37 billion, the report by Deloitte, a consultancy firm, said. Despite global headwinds like rising interest rates and elevated inflation levels leading to increased margin pressures for companies, the firm expects the overall activity to remain "strong" in the ongoing 2023.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
The satellite radio bigwigs remain optimistic despite Capitol Hill, FCC, and NAB objections, not to mention swooning stock prices.
The CrPC (Identification) Bill empowers the police to obtain physical and biological samples of convicts and those accused of crimes while the DMC (Amendment) Bill, 2022 seeks to unify the three civic bodies in the national capital.
The committee looked into the merger of the two airlines and its impact on the domestic aviation industry.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Australian Open holder Djokovic will make his ATP Cup debut for Serbia against South Africa in Brisbane on Saturday while Nadal will lead Spain into action against Georgia in Perth on the same day.
