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 why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: ... Read more
In this episode, find out about why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: Deposit Insurance and Credit Guarantee Corporation Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term o ... Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term of the Day: Sustainability bonds Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Te ... Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Term of the Day: annual general meeting Read more
In this episode, find out about why World Bank has discontinued its Doing Business Report, also find out why Poonawalla Fincorp’s CEO stepped down. Business Term of the Day: NARCL Read more
In this episode, find out about why World Bank has discontinued its Doing Business Report, also find out why Poonawalla Fincorp’s CEO stepped down. Business Term of the Day: NARCL Read more
In this episode, find out who are the bidders for the distressed Air India, also find out why India plans to sell upto 10% in Hindustan Copper. Business Term of the Day: Greenshoe ... Read more
In this episode, find out who are the bidders for the distressed Air India, also find out why India plans to sell upto 10% in Hindustan Copper. Business Term of the Day: Greenshoe option Read more
In this episode, find out why Zomato co-founder stepped down, also find out why Cabinet may consider telecom relief package Business Term of the Day: price to earnings ratio Read more
In this episode, find out why Zomato co-founder stepped down, also find out why Cabinet may consider telecom relief package Business Term of the Day: price to earnings ratio Read more
In this episode, find out why Yes bank is gearing up for Dish TV’s AGM, also find out how Jet Airways look set to start operations in Q12022 Business Term of the Day: valuation Read more
In this episode, find out why Yes bank is gearing up for Dish TV’s AGM, also find out how Jet Airways look set to start operations in Q12022 Business Term of the Day: valuation Read more
In this episode, find out why Wipro senior management is set to return to office this week, also find out why DMRC has to pay Rs 2950 crore to Reliance Infra. Business Term of the ... Read more
In this episode, find out why Wipro senior management is set to return to office this week, also find out why DMRC has to pay Rs 2950 crore to Reliance Infra. Business Term of the Day: Loan to value ratio Read more
In this episode, find out why Ford is shutting down its India operations, also find out why RBI Governor has major concerns about cryptocurrency Business Term of the Day: Income ... Read more
In this episode, find out why Ford is shutting down its India operations, also find out why RBI Governor has major concerns about cryptocurrency Business Term of the Day: Income tax return filing Read more
In this episode, find out why Net inflows into equity mutual funds fell in August, also find out why government has hiked MSP for rabi crops Business Term of the Day: Global bond Read more
In this episode, find out why Net inflows into equity mutual funds fell in August, also find out why government has hiked MSP for rabi crops Business Term of the Day: Global bond Read more
