The much-awaited merger between Air-India and Indian is expected to be cleared by the Union Cabinet by end of February, with the committee of secretaries submitting its recommendations to the Group of Ministers.
India Inc's mergers and acquisitions saw a significant upturn in January with the total deal size touching a $2.5 billion, jumping a massive 42 per cent over the same period last year.
Even a high powered performance by Rahul Bajaj at the packed press conference and analyst meet at the Oberoi Hilton in down-town Mumbai couldn't stop the stock from sliding on the bourses.
Finance Minister P Chidambaram on Monday favoured mergers in the banking industry so that India can have two-three global sized banks.
To elect, or re-elect a chief minister, the AIADMK needs to call only the MLAs for a meeting. But to elect a new general secretary, it would have to conduct direct elections with all registered cadres participating and voting. And that is just the beginning of its problems, says N Sathiya Moorthy.
Eleven villages in Akkalkot tehsil of Maharashtra's Solapur district have asked the district administration to provide them basic facilities or grant them permission to merge with adjoining Karnataka.
'Consolidation was part of the Indradhanush package.'
The Registrar of Companies has given a clean chit to Reliance Industries, while disposing of complaints that its merger with Reliance Petroleum would benefit only promoter Mukesh Ambani.
The Department of Telecommunications might favour the holding company structure for the merger of the two telecom PSUs, Bharat Sanchar Nigam and Mahanagar Telephone Nigam.
Companies planning merger and acquisition (M&A) will have to disclose the extent of "complementary linkages" among them and their impact on the market. This comes under the revised reporting requirements of the Competition Commission of India (CCI). The changes will take effect on May 1. Entities may also have to provide market-facing data of the past five years with respect to their market size, the market share of the parties, and also that of the competitors, along with customers and suppliers.
With three key subscription drivers -- F1, IPL and HBO -- gone, can Disney+Hotstar depend only on its chart-topping originals like Criminal Justice and Rudra: Edge of Darkness to hit both scale and profitability?
We must heed what the CJI has said. Challenging every judgment of the central government is inviting chaos, asserts Shreekant Sambrani.
As per the statement issued by the legislative assembly secretariat, speaker of Manipur legislative assembly is pleased to accept the merger of five JD-U MLAs with the BJP under the tenth schedule of the Constitution.
Karunakaran has said that the NCP is an important party.
Telangana Rashtriya Samithi chief K Chandrasekhar Rao meets Rahul; reportedly open for alliance in the Lok Sabha polls if he can get to be the CM of the new state, says Kavita Chowdhury
The Board of Directors of Reliance Industries on Monday approved a scheme of amalgamation of its subsidiary Reliance Petroleum with the parent company under the provisions of Sections 391 to 394 of the Companies Act, 1956.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
Bharti Airtel recently acquired a 100 per cent stake in Wireless Business Services, a company founded by US chipmaker Qualcomm. Subsequent to the acquisition, the company was renamed Airtel Broadband Services.
Actively-managed large-cap mutual fund (MF) schemes have managed to regain some lost sheen this year after faring poorly in the 2022 calendar year (CY22). At the end of the first six months (H1) of CY23, 78 per cent of the active large-cap schemes were ahead of the Nifty50 index funds as against just 26 per cent in 2022. When compared to the Sensex index funds, 61 per cent active funds have delivered better returns, shows an analysis of Value Research data.
For effecting the amalgamation, the government would first repeal the State Bank of Saurashtra Act, 1950 and thereafter amend the SBI Subsidiary Act, 1959 to remove references to the SBS Act wherever it occurs. The new Bill, to be introduced in Parliament soon, would be called the SBI Subsidiary Bank Amendment Bill, 2008.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
A meeting of the Board of Directors of Raasi Refractories Ltd will be held on January 31, 2003 to consider the proposal for merger of Raasi Enterprise Solutions Ltd with the company.
Equity benchmark Sensex surged over 1,300 points on Monday to reclaim the 60,000-level, boosted by intense buying in banking and financial stocks after the announcement of merger between HDFC and HDFC Bank. Strong global cues and receding crude oil prices also propped up the domestic equity markets, according to traders. Shares of HDFC and HDFC Bank rallied nearly 10 per cent as investors lapped up the merger deal.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
Ohanian and Williams sisters taking up golf with TGL ownership
Air India CMD Vasudevan Thulasidas said the combined entity will have a change management consultant which will enable employees to be IT-savvy.
The verdict will be delivered by a five-judge Constitution bench headed by Chief Justice of India DY Chandrachud.
Ivan Manuel Menezes, the India-born CEO of the world's biggest spirits company Diageo, died on Wednesday, days after being hospitalised for treatment of stomach ulcer. Menezes, 64, who was to retire at the end of this month, died in London, the company said. "It is with great sadness that Diageo announces that Sir Ivan Menezes has passed away following a brief illness, with his family at his side," it said in a statement. Diageo had on Monday announced that CEO-designate Debra Crew will assume the top role on an interim basis immediately as Menezes undergoes medical treatment.
The company added 95 lakh new 4G subscribers taking its total 4G subscriber base to 7.53 crore inching closer to its peer Bharti Airtel which reported 4G customer base of 7.7 crore.
The Supreme Court will hear a batch of pleas on the Maharashtra political crisis filed by the Shiv Sena factions led by Uddhav Thackeray and Eknath Shinde on November 29, when it is likely to issue some directions.
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
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