Bank of India re-enters the asset management business after nearly a decade, will exploit its branch network to sell its own MF products, in addition to third-party products.
Retail company plans to use the funds to lower its debt to equity ratio. It’s a tough order with the stock having lost about half its value in a month.
Swedish engineering company joins the ranks of companies seeking to delist from local bourses. Shareholders will reap a windfall, though they lose a good company in the process.
Axis Bank’s business will get a leg-up after acquiring Enam’s financial services business. The deal structure has been modified to meet RBI’s conditions, but the consideration remains all-stock.
Apollo Global Management has closed the Welspun Corp at Rs 225/share, although the share has dropped sharply since June, taking up the premium from 33% earlier to 74%.
Hotel Leelaventure wants to become ‘asset-light’, has sold its Kovalam hotel in Kerala to a Bahrain-based Indian industrialist, but will manage the property.
In a landmark case, a group of flat-buyers dragged DLF to the CCI, which accepted their contention, censured DLF and fined it Rs 630 crore. The case may well spark some change in the real estate sector's functioning in the years ahead.
GMR Energy has entered into an agreement with Indonesian company, which will help secure its coal supplies and also give it a stake in a fast growing company.
Piramal Healthcare is deploying Rs 2,900 crore from the sale proceeds received from Abbott Laboratories in Vodafone Essar, deploying surplus funds and helping Vodafone remain compliant with FDI norms.
Tata Motors is seeking to make use of JLR’s rising cash flows by leveraging its balance sheet, and refinance existing debt and potentially lower interest costs too.
State Bank of India’s reaction to the credit policy was swift, in a move which will see short term deposit rates spike and all loans will become expensive.
