HDFC Bank may rely on Indian market for $2.3 billion share sale
Posted on 18th June 2018 |
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Mumbai: HDFC Bank Ltd, the world’s most expensive major lender, is considering relying entirely on the Indian market for a share sale that could raise as much as Rs 15,500 crore ($2.3 billion), people with knowledge of the matter said. The Mumbai-based bank is weighing seeking all the capital through a qualified institutional placement in India, rather than its usual practice of splitting the fund-raising between an offering of local stock and a sale of American depositary receipts, according to the people. |
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Salman Khan’s ‘Race 3’ crosses Rs 100 crore milestone over opening weekend
Posted on 18th June 2018 |
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New Delhi: The Salman Khan box office charm shows no sign of fading. The actor’s latest festival release Race 3 crossed the Rs 100 crore mark over its opening weekend, making Rs 106.47 crore in domestic box office collections. The action thriller has emerged as the second highest opening weekend earner of the year so far after period saga Padmaavat that had made Rs 114 crore, but it had a five-day extended weekend compared to Race 3’s three days. |
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Sebi plans to amend takeover regulations
Posted on 18th June 2018 |
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New Delhi: Securities and Exchange Board of India (Sebi) is likely to change certain provisions in the takeover regulations, including those pertaining to revision of open offer price, a senior official said. The watchdog’s move comes after public consultations on a discussion paper about review of SAST (Substantial Acquisition of Shares and Takeovers) Regulations. |
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Sensex slips over 30 points as Asian shares skid on escalating trade war concerns
Posted on 18th June 2018 |
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Indian stock markets opened on a lower note on Monday following weak Asian peers after trade war concerns escalated between two major global economies. The BSE Sensex slipped 38.51 points to a low of 35,585.73 points during early trade. The Nifty50 of the National Stock Exchange fell around 10 points. Out of 1,166 trading companies on the BSE, 558 advanced as compared to 556 declines indicating a slightly bullish trend in the market. |
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Mercedes-Benz to produce only BS VI compliant diesel models in India
Posted on 18th June 2018 |
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German luxury car maker Mercedes-Benz said on Monday that all its diesel models in India from now on will have engines which comply with Bharat Stage (BS) VI emission norms. The company, which launched Mercedes-AMG S 63 Coupe starting at Rs 25.5 million, has already launched one BS VI compliant diesel model S-Class ( S 350 d) in the country in February this year. |
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Yes Bank gets Sebi nod for custodian of securities business
Posted on 18th June 2018 |
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Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (Sebi) for acting as custodian of securities. Custodian of securities is a licence granted by Sebi to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs). |
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HPCL, BPCL, IOCL gain on fall in global oil prices
Posted on 18th June 2018 |
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Shares of oil marketing companies (OMCs) like Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) were trading higher by up to 6% in otherwise subdued market after Brent crude prices fell in the international market. At 11:39 am; HPCL (up 6% at Rs 323), IOCL (5% at Rs 176) and BPCL (3% at Rs 424) were up in the range of 3% to 6% on the BSE, as compared to 0.07% decline in the S&P BSE Sensex. |
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Modi government must absorb all Air India debt
Posted on 18th June 2018 |
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Now that the Air India sale process has come a cropper, and the government is reportedly looking at listing Air India (AI) in order to make it a truly independent company, the obvious question is who will buy it? As per the plan, once the government stake in Air India falls to below 50%, an independent board and a brand-new team can be appointed to fly the airline into profitability—once the stake is below 50%, |
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SBI presentation fuels talk of bank mergers
Posted on 18th June 2018 |
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The stage is set for intensification of attempts at public sector bank consolidation after a presentation by State Bank of India (SBI) chairman Rajnish Kumar at a recent meeting of bankers, although it isn't quite clear on who will make the first move. Bankers and government officials told TOI that Kumar made a detailed presentation on SBI's experience with the merger of five associate banks, pointing out how there were some initial niggles during the first few months, along with heightened anxiety. |
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