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 why LIC is looking at IPO in April, also find out about Brookfield’s plans to buy a substantial stake in Mahindra Susten Business Term of the Day: Refere ... Read more
In this episode, find out why LIC is looking at IPO in April, also find out about Brookfield’s plans to buy a substantial stake in Mahindra Susten Business Term of the Day: Reference exchange rate Read more
In this episode, find out about SEBI’s search operations in social media stock tips scam, also find out why US markets fell during trade Business Term of the Day: Tax planning Read more
In this episode, find out about SEBI’s search operations in social media stock tips scam, also find out why US markets fell during trade Business Term of the Day: Tax planning Read more
In this episode, find out about SEBI’s decision to clear the LIC IPO, also find out about RIL’s decision to terminate lease for 835 Future Retail stores Business Term of the Day: ... Read more
In this episode, find out about SEBI’s decision to clear the LIC IPO, also find out about RIL’s decision to terminate lease for 835 Future Retail stores Business Term of the Day: Supply shock Read more
In this episode, find out about NSE CEO Vikram Limaye’s plan to step down after his tenure ends in July, also find out why oil companies will be in focus in trade today Business T ... Read more
In this episode, find out about NSE CEO Vikram Limaye’s plan to step down after his tenure ends in July, also find out why oil companies will be in focus in trade today Business Term of the Day: Unified Payment Interface Read more
In this episode, find out about TCS’ Rs 18,000 crore share buyback plan, also find out ICICI bank’s plans to raise infrastructure bonds. Business Term of the Day: Generic drugs Read more
In this episode, find out about TCS’ Rs 18,000 crore share buyback plan, also find out ICICI bank’s plans to raise infrastructure bonds. Business Term of the Day: Generic drugs Read more
In this episode, find out why Indian markets are set to open lower today, also find out about PNB Housing Finance’s equity raising plan after a failed attempt last time Business T ... Read more
In this episode, find out why Indian markets are set to open lower today, also find out about PNB Housing Finance’s equity raising plan after a failed attempt last time Business Term of the Day: Limited Partners Read more
In this episode, find out about Amazon & Future Group's out of court settlement talks, also find out about Aditya Birla & Vodafone Group's Rs 4500 crore lifeline to Vodafon ... Read more
In this episode, find out about Amazon & Future Group's out of court settlement talks, also find out about Aditya Birla & Vodafone Group's Rs 4500 crore lifeline to Vodafone Idea Business Term of the Day: Rupee-Ruble trade arrangement Read more
In this episode, find out why the sale of FCMG goods fell in the December quarter, also find out about lenders' plan to convert Suzlon Energy’s debt into equity Business Term of t ... Read more
In this episode, find out why the sale of FCMG goods fell in the December quarter, also find out about lenders' plan to convert Suzlon Energy’s debt into equity Business Term of the Day: Buyback of shares. Read more
In this episode, find out who is the latest contender to buy out IDFC Asset Management Company, also find out about Maruti Suzuki’s plans to enter the electric car segment Business ... Read more
In this episode, find out who is the latest contender to buy out IDFC Asset Management Company, also find out about Maruti Suzuki’s plans to enter the electric car segment Business Term of the Day: Economic Sanctions Read more
