HDFC Bank Ltd, India’s most valuable lender, agreed to acquire its parent and the country’s largest mortgage lender for about $40 billion in an all-stock deal to create a $160 billion financial services behemoth that will be better positioned to tap soaring demand for home loans. shareholders of HDFC will get 42 shares of HDFC Bank for every 25 shares held. HDFC’s 26% stake in HDFC Bank will be 100% owned by public shareholders, with existing shareholders of HDFC Ltd owning 41%.
Competition Commission on Monday ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners. The order has come on a complaint filed by the National Restaurant Association of India (NRAI).
Mining giant Vedanta Limited on Monday reported a rise of 8 per cent in its production of aluminium and zinc and that of iron ore by 18 per cent during the quarter ended March 31, 2022 as compared to its output during the same quarter a year ago.
SBI Cards: Carlyle Group, a private equity firm, will sell all of its stake in the firm for ₹2,558 crore via block trade. Carlyle Group will raise upto Rs 2,560.60 crore ($339 million) by selling its sale in the company. It will sell 2.92 crore shares at Rs 851.50-876.75 each—a 2.9% discount to Monday’s closing price of Rs 876.75.
TCS – has entered into a strategic partnership with Payments Canada to facilitate real-time transactions in that country. The company has also signed a multi-year, cloud-computing contract with a large American company.
The Securities and Exchange Board of India (SEBI) on April 4 announced the constitution of an ad-hoc committee which will suggest measures to improve the government norms for market infrastructure institutions (MIIs). The panel will be headed by SEBI’s former whole time member G Mahalingam.
Moving on to markets
Benchmark equity indices on BSE and National Stock Exchange (NSE) opened on a marginally negative note on Tuesday.
The S&P BSE Sensex slipped 138 points to 60,473.35 points in early trade while the Nifty 50 fell marginally to 18,033.10.
Business Term of the day
A merger refers to an agreement. It is a mutually binding contract in which two companies join together to form one company. After a merger, shares of the new company are distributed to existing shareholders of both original businesses. Mergers are most commonly done to gain market share, reduce costs of operations, expand to new territories, unite common products, grow revenues, and increase profits.
In this episode, find out about about Dalmia Cement’s mine acquisition in Madhya Pradesh, also find out about Mahindra Logistics’ new CFO. Read more
In this episode, find out about about Dalmia Cement’s mine acquisition in Madhya Pradesh, also find out about Mahindra Logistics’ new CFO. Read more
In this episode, find out about Axis Bank’s plan to complete the acquisition of Citibank’s consumer biz by March 2023, also find out about Tech Mahindra’s tie-up with Comviva to ex ... Read more
In this episode, find out about Axis Bank’s plan to complete the acquisition of Citibank’s consumer biz by March 2023, also find out about Tech Mahindra’s tie-up with Comviva to expand the deal with Vodafone Germany Business Term of the Day: Dollar bond Read more
In this episode, find out about about Biocon’s $129 m fund raising from Kotak, also find out about Titagarh-BHEL’s bid for Vande Bharat contract. Read more
In this episode, find out about about Biocon’s $129 m fund raising from Kotak, also find out about Titagarh-BHEL’s bid for Vande Bharat contract. Read more
In this episode, find about the department of pharmaceuticals releasing the first tranche of incentives, also know about HDFC bank planning to sell Dollar bonds to support its plan ... Read more
In this episode, find about the department of pharmaceuticals releasing the first tranche of incentives, also know about HDFC bank planning to sell Dollar bonds to support its plans to expand lending outside India. Read more
In this episode, find out about Wipro’s plan to cut freshers’ salaries, also find out about Tata Motors’ MoU with Uber Business Term of the Day: Business model Read more
In this episode, find out about Wipro’s plan to cut freshers’ salaries, also find out about Tata Motors’ MoU with Uber Business Term of the Day: Business model Read more
In this episode, find out about SC’s stay over Rs 800 cr penalty on beer cos for cartelisation, also find out about NSE’s rearrangement of stocks Business Term of the Day: Company ... Read more
In this episode, find out about SC’s stay over Rs 800 cr penalty on beer cos for cartelisation, also find out about NSE’s rearrangement of stocks Business Term of the Day: Company guidance Read more
In this episode, find out about Hindustan Zinc’s plans to talk to the mines ministry to acquire Vedanta assets, also find out about Indian Oil’s clarification on the Adani Gas deal ... Read more
In this episode, find out about Hindustan Zinc’s plans to talk to the mines ministry to acquire Vedanta assets, also find out about Indian Oil’s clarification on the Adani Gas deal Business Term of the Day: Big bath Read more
In this episode, find out about the block deal in IndiGo, also find out about Vodafone Idea’s 5G rollout plans Business Term of the Day: Additional Surveillance Measure (ASM) Read more
In this episode, find out about the block deal in IndiGo, also find out about Vodafone Idea’s 5G rollout plans Business Term of the Day: Additional Surveillance Measure (ASM) Read more
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Busine ... Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Business Term of the Day: Commercial Real Estate Read more
