A meeting of the Board of Directors of RPG Cables Ltd will be held on January 30, 2003 to consider merger of a subsidiary company, Concepta Cables with the company.
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.
The government on Wednesday said it has begun the process of scrutinising the names for appointment of advisors to synergise operations of the telecom PSUs -- BSNL and MTNL.
The world of golf was left stunned as the PGA Tour, DP World Tour and LIV circuit, who have been involved in a bitter fight, announced a shock agreement!
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
In signs of thaw on All India Anna Dravida Munnetra Kazhagam merger move, the factions led by Tamil Nadu Chief Minister K Palaniswami and the one by O Panneerselvam on Friday announced formation of their respective committees to hold discussions.
India's banking industry will see a lot of mergers in the near future and emerge as the best in the world in 20 years, a senior banker said on Tuesday.
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.
Public sector lenders Dena Bank and UCO Bank on Tuesday ruled out their merger with market leader State Bank of India.Dena Bank, on the other hand, debunked the report saying these were "not correct" and it had no knowledge if SBI had any discussions with others about any merger proposal.
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.
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.
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.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
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.
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".
In the international market, Pfizer completed its acquisition of Wyeth in 2009.
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.
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.
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.
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.
Finance Minister P Chidambaram on Monday favoured mergers in the banking industry so that India can have two-three global sized banks.
Karunakaran has said that the NCP is an important party.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
We have not been able to communicate in a very articulate manner and clear manner on the merger as earnings were due, says HDFC CEO.
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.
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.
'Consolidation was part of the Indradhanush package.'
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.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor.
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
