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 Bharti Airtel's Q4 numbers missed estimates, why WPI inflation rose to a decade high Business Term of the Day: Aggregate demand & Aggregate supp ... Read more
In this episode, find out why Bharti Airtel's Q4 numbers missed estimates, why WPI inflation rose to a decade high Business Term of the Day: Aggregate demand & Aggregate supply Read more
In this episode, find out why L&T’s Q4 numbers beat estimates, why investors will watch out for WPI inflation number today Business Term of the Day: Net profit Read more
In this episode, find out why L&T’s Q4 numbers beat estimates, why investors will watch out for WPI inflation number today Business Term of the Day: Net profit Read more
In this episode, find out why JSPL reported the highest-ever operating profit, why Bitcoins investors are worried Business Term of the Day: Cost-push inflation Read more
In this episode, find out why JSPL reported the highest-ever operating profit, why Bitcoins investors are worried Business Term of the Day: Cost-push inflation Read more
In this episode, find out why Former Star chairman Uday Shankar promoted company is looking at US listing, why Asian stocks fell in opening trade Business Term of the Day: Index o ... Read more
In this episode, find out why Former Star chairman Uday Shankar promoted company is looking at US listing, why Asian stocks fell in opening trade Business Term of the Day: Index of Industrial Production (IIP) Read more
In this episode, find out why net flows into mutual funds slowed down in April, why Inflation, IIP data will be in focus today Business Term of the Day: MSCI Index Read more
In this episode, find out why net flows into mutual funds slowed down in April, why Inflation, IIP data will be in focus today Business Term of the Day: MSCI Index Read more
In this episode, find out why surging commodity prices has left investors jittery, why Corporate India is looking at fund raising Business Term of the Day: Trade deficit Read more
In this episode, find out why surging commodity prices has left investors jittery, why Corporate India is looking at fund raising Business Term of the Day: Trade deficit Read more
In this episode, find out why investors are watching out for inflation data this week, why Ultratech Cement reported a drop in profit Business Term of the Day: Goods & Servi ... Read more
In this episode, find out why investors are watching out for inflation data this week, why Ultratech Cement reported a drop in profit Business Term of the Day: Goods & Services Tax (GST) Read more
In this episode, find out why Hero Motorcop is confident of riding the second covid wave, why US investors are gung-ho about the economic recovery Business Term of the Day: offer ... Read more
In this episode, find out why Hero Motorcop is confident of riding the second covid wave, why US investors are gung-ho about the economic recovery Business Term of the Day: offer for sale Read more
In this episode, find out why Tata Steel reported strong Q4 numbers, why New Zealand and Australian employees want to quit their jobs post covid. Business Term of the Day: Intell ... Read more
In this episode, find out why Tata Steel reported strong Q4 numbers, why New Zealand and Australian employees want to quit their jobs post covid. Business Term of the Day: Intellectual property Read more
In this episode, find out why Zydus Cadilla is expecting the jab nod soon, why Adani ports and SEZ is looking to call off its plans to set up container terminal in Myanmar Busines ... Read more
In this episode, find out why Zydus Cadilla is expecting the jab nod soon, why Adani ports and SEZ is looking to call off its plans to set up container terminal in Myanmar Business Term of the Day: Free Trade Agreement Read more
