Ashok Leyland has acquired a 3.62 per cent stake in Hinduja Leyland Finance Ltd (HLFL), a subsidiary of the company, for Rs 202 crore. Following the acquistion, the company’s shareholding has increased to 65.45...
Future group seeking buyers for insurance arm to pay off its debt
The Future group is looking for a buyer for its insurance venture to ease pressure on the promoter entities to pay off its debt. With the share prices of group companies falling rapidly on the bourses, the group is...
Coronavirus: Pressure mounts on govt to defer PSB merger amid lockdown
Pressure is mounting on the government to postpone the merger of public sector banks amidst 21-day nationwide lockdown which began on Wednesday and will continue till April 13. The merger deadline is set at 1st April...
Motilal Oswal board approves buyback of equity shares up to Rs 150 crore
Motilal Oswal Financial Services Ltd said on Monday its board of directors has approved buy-back of equity shares with a face value of Re 1 from open market for a total amount not exceeding Rs 150 crore. This will...
How Conzerv Systems and Schneider Electric managed a tricky biz of merger
Most acquisitions fail because of a cultural clash. But Conzerv Systems and Schneider Electric managed this thorny issue successfully. Hema Hattangady & Ashish Sen throw light on what worked for the two companies in...
SoftBank Group seeks to raise additional $10 billion for Vision Fund
SoftBank Group is seeking to raise an additional $10 billion so its first Vision Fund can support portfolio companies battered amid the coronavirus pandemic, according to people with knowledge of the matter. SoftBank is...
Ashok Leyland to acquire additional 19% stake in Hinduja Leyland Finance
Hinduja Group flagship Ashok Leyland Ltd has announced plans to acquire upto 19 per cent of additional equity shares in Hinduja Leyland Finance Ltd (HLFL), the Non-Banking Finance Company (NBFC) part of the Group, from...
Share exchange ratio for merger remains unchanged, says Indian Bank
Indian Bank has said that there is no change in the share exchange ratio notified by the Bank on March 5, 2010 for the amalgamation of Allahabad Bank into the Bank, even after the expert committee constituted to...
Damani family increases stake in India Cements from 11.98% to 16%
Damani family, one of the richest families in India, has further increased their stake in India Cements Ltd from 11.98 per cent to 16 per cent through open market transactions till March 16, 2020. On February 26, India...
Xerox pauses HP hostile takeover, proxy fight amid virus outbreak
Xerox Holdings said it will pause its public pursuit of HP Inc amid the outbreak of the coronavirus. “Xerox needs to prioritise the health and safety of its employees, customers, partners and affiliates over and above...
LIC to buy 1.35 billion shares of YES Bank at Rs 10 apiece: TV reports
As part of the YES Bank restructuring plan, Life Insurance Corporation of India (LIC) would buy around 1.35 billion shares at a price of Rs 10 apiece, according to a report by business channel CNBC-TV18. On Thursday...
Sun Pharma board to consider buyback of shares next week
The pharma major Sun Pharmaceutical Industries on Thursday announced that its board will consider the buyback of company’s shares next week. According to analysts, more promoters could announce buybacks to...
