HDFC Life Insurance Company has decided to convene an extraordinary general meeting (EGM) on 29 September 2021, seeking shareholder’s approval for the Exide deal. Under this Rs. 6,687 crores deal, HDFC Life, will acquire 100% share capital of Exide Life after paying the promoter Exide Industries Rs. 725.98 crores in cash. This EGM will be …
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) rallied 6% intraday on 6 September 2021. The company’s shares crossed the Rs. 3,000 mark, hitting a new all-time high of Rs. 3,041.20. Moreover, experts suggest that the shares can continue to hit new records and may even touch Rs. 5,000 per stock levels in the …
India’s central bank, the Reserve Bank of India (RBI) has now extended tokenisation to include card-on-file (COF) data when its new rules on data storage will come into effect starting January 2022. According to an RBI statement dated September 7, 2021, the device based framework would now be extended to card on file tokenisation and …
An Overview According to reports, the government is considering allowing foreign institutional involvement of up to 20% in Life Insurance Corporation. The government expects to generate up to Rs. 900 billion from the stake sale, which will make it India’s largest ever IPO. The decision will make it easier for the government to raise funds …
An Overview According to the FICCI Manufacturing Survey for July-September, the outlook appears to have improved markedly in Q2 after a weak Q1. The percentage of responders reporting increased output in the second quarter of 2021-22 was much above 50%, at roughly 61%. This was much higher than the same percentage in the second quarter …
Rapid recovery “The pandemic impacted the country, but the recovery has been faster than the damage.” Prime Minister Narendra Modi said on Saturday. “Covid-19 had an impact on economies all across the world, including India’s. But our economy has made a strong comeback,” Modi remarked at the Sardardham Bhavan’s opening in Ahmedabad. The Prime Minister …
Surge in exports Merchandise exports increased 45.8 percent year on year to $33.3 billion in August, owing to a favourable base, greater order flow from western markets, and higher global commodity prices. Exports also increased by 28 percent over the pre-pandemic (similar month in 2020) level, as advanced countries’ rebound boosted demand for goods. According …
Global investment fund, The Blackstone Group, reduced its stake in Embassy Office Parks REIT by 6%. Earlier, Blackstone had a stake of 38%. Presently that has reduced to 32%. Blackstone took this step to monetise some of its investments. The sale of these units was made in the open market via block deals. Check out …
Ami Organics made an impressive stock debut as its shares got listed on the bourses at a 49% premium. Since listing, the share price of this Surat-based specialty chemical manufacturer has surged 84% from its IPO issue price of Rs. 610 per unit. Moreover, on 15 September 2021, Thursday, Ami Organics share price surged 20% to …
While we have already discussed the under performance of Realty companies, real estate companies have also failed to execute large and ambitious projects. If we take a look at the past few large projects like Lavasa (HCC), Sahara City and few others like large projects from Unitech and Jai Prakash Associates not only created doubt about …
