BHARAT FINANCIAL INCLUSION will merge with Induslnd Bank. The two sides also froze the swap ratio at 639 shares of the bank for every 1,000 shares of BHARAT FINANCIAL INCLUSION. Ashok Leyland said that the Delhi High Court has stayed a government directive disqualifying one of its directors till Nov 1.
Bajaj Corp is looking at acquisition opportunities targeting niche brands and also aiming to capture a market share of 65% in light hair oil segment by 2018-19. Airtel, through its subsidiaries, has completed the deal with Millicom International to merge their operations in Ghana.
Bodal Chemical’s board has closed the qualified institutional placement issue and fixed the issue price at 172 rupees per share. Cadila Healthcare as received the US Food and Drug Administration’s final approval to market Allopurinol tablets in 100-mg and 300-mg strengths.
Reliance Mutual Fund bought 2.3 mln shares of Cyient or 2.07% of its total outstanding shares for 520 rupees a share via two bulk deals on the BSE. Dena Bank closed its qualified institutional placement of shares, setting an issue price of 29.20 rupees apiece.
GE Power India has won two orders worth of 3.27 bln rupees from Doosan Power Systems India to supply ambient air quality control systems to be installed at power plants. HCL Infosystem has scheduled board meeting on Saturday to mull rights issue of shares has been deferred to next week.
HCL Technologies announced a new intellectual-property partnership agreement with US-based DXC Technology, calling off the its previous joint venture with the American company, entered into in 2015. Hindalco is gearing up to mount a multi-billion dollar bid to acquire Aleris Corp from its private equity owners, sources said.
ICICI PRU Life Insurance has increased its stake in SADBHAV ENGINEERING to 7.89% by purchasing shares through open market on Friday. IDBI Bank’s employees along with the members of various bank unions would hold a two-day strike later this month demanding wage revision.
A group of domestic investors are arguing that IDFC has no management bandwidth to run the truck financing business of Shriram Group, besides demanding a better share swap ratio, sources said. INFO EDGE (INDIA) has invested 507.1 mln rupees in Etechaces Marketing and Consulting.
JSPL has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the sale of two of its oxygen plants to SREI Equipment Finance last week. Kotak Mahindra Bank has bought 26% equity stake in its subsidiary Kotak Mahindra Old Mutual Life Insurance from Old Mutual Plc for Rs 12.93 bln .
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