Vodafone Idea on Thursday said its board has approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three promoters group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs 4,500 crore. The telecom operator had earlier this month announced Rs 14,500 crore fundraising plans, where [...]
GAIL (India) Ltd on Thursday said it will buyback about 5.7 crore shares for Rs 1,083 crore as it looks to use its healthy balance sheet to reward shareholders for the second time in as many years. GAIL had in 2020-21 spent Rs 1,046.35 crore on a similar share buyback. The board of directors of [...]
Shares of Axis Bank gained nearly 2 per cent in morning trade on Thursday, after the company said it will acquire US-based Citi's consumer business in India for Rs 12,325 crore. The stock jumped 1.82 per cent to Rs 763.90 on the BSE. At the NSE, it gained 1.67 per cent to Rs 763. Axis [...]
Apollo Tyres on Thursday said it is cooperating with the investigation by the Competition Commission of India (CCI), asserting that it has acted in compliance with competition laws. CCI officials visited the offices of Apollo Tyre on Wednesday. Another tyre maker Ceat Ltd had also confirmed a visit by the officials of the anti-trust regulator [...]
Tata Group firm Tejas Networks will acquire 64.40 per cent stake in semiconductor firm Saankhya Labs Pvt Ltd for Rs 283.94 crore in an all-cash deal. The initial acquisition of Saankhya shares is expected to close within the next 90 days, Tejas said in a statement. "Tejas Networks, upon procuring all necessary consents and approvals, [...]
US bank Citigroup on Wednesday announced sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets. The deal, which is expected to close in the first half [...]
After the record USD 23 billion of additional investments in the domestic equities in FY21, foreign funds have massively slashed their fresh exposure to the country to USD 3.7 billion in FY22, also pairing down their holdings in NSE500 to 19.9 per cent or worth USD 582 billion, down from their peak of 21.4 per [...]
The country's largest private sector lender HDFC Bank on Wednesday said the elevated stress on unsecured loan assets noticed during the COVID-19 pandemic is over, and the bank is upbeat about the segment now. The unsecured lending book for the bank includes credit cards and personal loans. According to HDFC Bank's country head for consumer [...]
Taxpayers not linking PAN with Aadhaar by March 31 would be required to pay a penalty ranging from Rs 500 to Rs 1,000, the income tax department has said. The last date for linking a Permanent Account Number (PAN) with biometric Aadhaar is March 31, 2022. Not adhering to the deadline will lead to PAN [...]
The Union Cabinet on Wednesday hiked Dearness Allowance (DA) and Dearness Relief (DR) by 3 per cent to 34 per cent to compensate for the price rise, benefitting over 1.16 crore central government employees and pensioners. The additional instalment will be effective from January 1, 2022, said an official release after the Cabinet meeting. "The [...]
