Telecom solutions company Tech Mahindra said on Thursday that it has received approval from the US anti-trust authority regarding its Rs 1,154-crore open offer for the purchase of an additional 20 per cent stake in...
LIC seeks nod to raise stake in public sector banks beyond 10%
Life Insurance Corporation of India has sought the permission of the Insurance Regulatory and Development Authority for raising its stake in public sector banks beyond 10 per cent. Ever since the IRDA put a 10 per cent...
State Bank of Indore to be merged with SBI
Less than a fortnight after the Finance Minister, Mr Pranab Mukherjee, endorsed the consolidation process among State-owned commercial banks, State Bank of India (SBI) has set the ball rolling. The board of State Bank...
Govt looking at proposal to divest 10% in BHEL
The Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd, the Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh said on Friday in response to a...
Zandu’s FMCG business to be merged into Emami
In a three-way restructuring plan, Emami Ltd and its listed subsidiary, Zandu Pharmaceutical Works, have proposed to merge Zandu’s FMCG business into Emami, demerge Zandu’s other (non-FMCG) assets and...
Wockhardt sells German biz Esparma
Debt-ridden Wockhardt Ltd has divested its German business Esparma to Mova GmbH, a subsidiary of Lindopharm GmbH, Germany, for an undisclosed amount. The development comes as the Mumbai-based drug maker sets about the...
Federal Bank, Catholic Syrian merger likely in a month
The merger of Catholic Syrian Bank with Federal Bank is expected to be through in a month. According to reliable sources close to the deal, the boards of directors of both the banks will meet in a month’s time to...
Jubilant mulls sale of performance polymer biz
Pharmaceutical major Jubilant Organosys Ltd on Tuesday said it is looking at selling off its non-core business of industrial performance polymers. “The company is strategically focusing on pharmaceuticals and life...
Infosys eyes buys in Mexico, Brazil to improve operations
Infosys Technologies Ltd is eyeing acquisitions in Mexico and Brazil to expand its delivery capability and grow business from local organisations in these geographies. The company, which expects its first centre in...
SBI gears up for consolidation, awaits govt green signal
The Union Finance Minister, Mr Pranab Mukherjee’s accent on banking industry’s consolidation at a meeting with bankers last week will, in all likelihood, spur the State Bank of India to complete its...
Nomura agrees to buy 30.5% stake in LIC MF
Japanese financial services group Nomura has agreed to pick up a 30.5 per cent stake in LIC Mutual Fund for around Rs 227 crore. The deal values the Indian company at over Rs 700 crore. The Japanese firm plans to take...
Indian Hotels to acquire Sea Rock for Rs 680 cr
Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels, will acquire Sea Rock Hotel in Mumbai for Rs 680 crore. IHCL will pick up an 85 per cent stake in ELEL, the company which holds a long-term sub-lease...
