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HDFC in focus on completing acquisition

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Housing Development Finance Corporation (HDFC) said the company has completed the acquisition of 50.80% shares of Apollo Hospitals Group in Apollo Munich Health Insurance Company for Rs 1,485 crore. It also acquired 0.36% stake in Apollo Hospitals held by employees for Rs 10.67 crore. Apollo Munich has been renamed to HDFC ERGO Health Insurance, which will operate as a subsidiary of HDFC.

Tata Consultancy Services (TCS) said the company has expanded its partnership with Vipps AS, Norway's leading player in the payments and identification segment, to leverage TCS' Machine First' Delivery Model (MFDM) and cloud services to accelerate the latter's growth and digital journey.

IT major Infosys will announce its Q3 result today, 10 January 2020.

Delta Corp said the company's subsidiary in Nepal has been issued a license for operating a casino in Nepal. The operations of the casino at the Marriot Hotel in Kathmandu are expected to commence soon.

GMR Infrastructure (GMR) said GMR Hyderabad Aerotropolis (GHAL), a subsidiary of GMR Hyderabad International Airport (GHIAL), has formed a joint venture with ESR Hyderabad 1 Pte (ESR), a subsidiary of the Hong Kong based ESR Cayman, to develop a 66-acre logistics and industrial park at the Hyderabad airport city. ESR and GMR entered into a definitive agreement with an equity interest of 70% and 30%, respectively, in the special purpose vehicle named GMR Logistics Park.

Sterlite Technologies (STL) said Sterlite Global Venture (Mauritius) a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8% stake (on issued and outstanding basis) in ASOCS, a vRAN technology company based out of Israel.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 10 2020. 08:28 IST
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