Page 2436 - Company News

HDFC Life acquires Exide Life Insurance in Rs 6,687-crore deal

Move will augment the embedded value of HDFC Life by 10%

Immediate gains more likely for Exide Industries' stock than HDFC Life

Former gets exit from a non-core capital-intensive business as well as liquidity; merger synergies for latter likely between 12-15 months

Maruti Suzuki announces its largest recall to rectify safety defects

The recalled vehicles will be inspected and if any fault is found in their motor generator unit, that will be replaced free of cost

Snapdeal plans $350-400 million IPO, eyes valuation of up to $2.5 billion

Recently, Snapdeal said it saw huge traction in the sale of kids' apparel, a jump of 493 per cent in the sixth month period between January and July

Biggest sovereign wealth fund excludes ONGC from portfolio

The exclusion was announced by Norges Bank after a recommendation from the Council on Ethics, an independent body that investigates possible norm breaches in the wealth fund's $1.4 tn portfolio

GIFT City gains traction: Avendus fourth firm to get nod for setting up AIF

According to an industry official tracking developments at GIFT City, four other companies' applications are under are under consideration for setting up AIFs

Bank of Maharashtra expects total business to cross Rs 3 trn soon

The bank has been a performer in various key parameters, including deposit mobilisation, credit growth, recovery, risk management etc, BoM managing director and CEO A S Rajeev said

Newsmakers: Meet BillDesk founders MN Srinivasu, A Kaushal & K Ganapathy

In a span of a day M N Srinivasu (Vasu), Ajay Kaushal and Karthik Ganapathy have become the latest demi-gods of Indian entrepreneurial story

Five years of Reliance Jio: From disruption to data revolution

Its user base in India doubled from 205 million in 2016 to 425 million now

ONGC Videsh plans to raise $700 million from overseas investors

The company plans to retire old loans

JSPL shareholders okay 96.42% stake sale in Jindal Power for Rs 7,401 cr

At the company's EGM held electronically on Friday, 97.12% of Jindal Steel shareholders via special resolution approved divestment of the firm's power business

RIL arm buys majority stake in Strand Life Sciences for Rs 393 crore

RIL is expected to further invest up to Rs 160 crore in the genomic testing firm by March, 2023

NTPC seeks shareholders' nod to raise Rs 18,000 crore via bonds

State-owned NTPC will seek shareholders' approval to raise Rs 18,000 crore through the issuance of bonds or debentures in its annual general meeting on September 28.

McLeod Russel steps out of insolvency after settlement with creditor

Sources say offer has been made to P P Gupta of Techno Electric for a minority stake in the firm, who could chip in to help McLeod promoters bring in equity as per debt resolution

NCLAT issues notice over PNB's plea against Jet Airways resolution plan

The bank is aggrieved by the reduction in its claim amount by around Rs 202 crore by the Resolution Professional

Arvind Fashions narrows focus to branded apparel: Check details here

Six high-conviction brands on which it now wants to build profitability include US Polo Association, Tommy Hilfiger, Calvin Klein, Arrow, Flyi­ng Machine and Sephora

Syringe makers ramp up production, fear demand may soon outstrip supply

The Centre is looking to procure around 1 billion syringes between September and December to support the Covid-19 vaccination drive

JSPL shareholders approve 96.42% stake sale in Jindal Power for Rs 7,401 cr

JSPL said over 97 per cent shareholders have approved the proposal to sell 96.42 per cent stake the company holds in its arm Jindal Power for Rs 7,401 crore to its promoters owned firm Worldone.

Vivek Chaand Sehgal resigns as director from Sun Pharmaceutical board

Drug firm Sun Pharmaceutical Industries on Friday said Vivek Chaand Sehgal has resigned as an independent director of the company with effect from September 1.

Madhya Pradesh govt signs MoU with NTPC for setting up ITI in Khargone

The Madhya Pradesh government on Friday signed a memorandum of understanding (MoU) with NTPC Limited for setting up an industrial training institute (ITI) at a village in Khargone district.