In the first major sign of consolidation in life insurance in India, HDFC Life picked up Exide Life for a consideration of Rs.6,687 crore. Here is why this deal will make a lot of sense to both parties. How will the deal be structured It will be a stock cum cash deal in which HDFC
Jerome Powell hints at taper starting by year end in his Jackson Hole speech In his speech, Powell indicated that the time was ripe to start putting curbs on liquidity creation in the US economy However, inflation and labour data did not still justify a rate hike, which may have to wait for some more
Previous Day Market Nifty Closed At 15727 Down By 151 Points Sensex Closed At 52568 Down By 485 Points Zomato fixed the IPO price band for its Rs.9,375 crore IPO in the range of Rs.72 to Rs.76 per share. The issue will open on 14 July and close for subscription on 16 July. Zomato is
Previous Day Market Sensex Closed At 52,484 Up By 166 Points Nifty Closed At 15,722 Up By 42 Points For the week ended 02 July, 8 out of the 10 most valuable Indian companies on the Nifty by market cap saw combined erosion in value to the tune of Rs.65,177 crore. Ironically, TCS and HDFC
Previous Day Market Sensex closed at 52,232.43 up by 382.95 points Nifty closed at 15,690.35 up by 114.15 points LIC IPO may finally be on the anvil as the government plans to call for proposals from investment banks for its proposed IPO. The investment banker is likely to be finalized at the earliest. The LIC
Cement major, ACC Ltd, reported 74% growth in net profit at Rs.563 crore for the Mar-21 quarter. Consolidated sales revenues for the quarter were up 23% at Rs.4,213 crore in the quarter. ACC saw growth in sales volume and also in price leading to a boost to volumes and realizations. EBITDA was up 47%
Vedanta Resources PLC has announced its intent to revive its India delisting plans and has now offered a price of Rs.235 per share to shareholders. Learning from the first case It may be recollected that back in 2020, Vedanta had made an attempt to buy back the outstanding shares of its India unit at Rs.87.50
Previous Day’s Market Update Sensex closed at 49801 down by 562.33 points Nifty closed at 14721.30 down by 189.15 points Year 2021 has been a bumper year for IPOs. Out of 10 IPOs that listed in 2021, 8 of these 10
Central Bank India reported flat net profits of Rs.165 crore for the Dec-20 quarter despite 10% fall in total revenues at Rs.6,584 crore. CBI saw flat treasury income but retail lending income was down as was corporate lending. Interest income fell with lower rates. Despite a 30% fall in the operating profits yoy, Central Bank
Union Budget 2021-22 was presented in a unique set of circumstances. The fiscal deficit had already threatened to go through the roof. GST collections for the full year had fallen drastically even as direct tax collections had also faltered. In the midst of all this revenue related chaos, the Indian economy was expected to contract
