IndusInd Bank - Bharat Financial Inclusion merger to be effective from July 4
IndusInd Bank and Bharat Financial Inclusion have considered and noted the NCLT order on June 10, 2019, sanctioning the Scheme of Arrangement among BFIL the Bank, and Induslnd Financial Inclusion Limited (lFIL) and their respective Shareholders and Creditors (Scheme).
The Boards fixed Thursday, July 04, 2019, as the effective date of the Scheme, on which date the NCLT Order will be filed by the Bank, BFIL and IFIL with the jurisdictional Registrar of Companies. Certified copy of the NCLT Order was received on June I3, 2019 and in terms of the NCLT Order. The same has to be filed within 30 days. i.e. on or before July 12, 2019.
HDFC acquires 51.2% stakes in Apollo Muich Health Insurance Company
Housing Development Finance Corporation (HDFC), in its press note to the exchanges, informed that the company has signed agreements for acquiring 51.2% stake in Apollo Munich Health Insurance and would be later merging it with its general insurance arm HDFC Ergo.
The acquisition will be completed via two-stage transaction, which is subject to regulatory approvals. In the first stage, Apollo Munich would be held as a subsidiary of HDFC Ltd, and in the second stage, it would be merged with HDFC Ergo General Insurance to form one entity under the HDFC Ergo brand, the company said in a press note released after markets hours to the exchanges on Wednesday.
Rajesh Exports gains on order wins worth Rs942cr
Shares of Rajesh Exports gained 1% on Wednesday after the company won an order worth Rs942cr of designer range of jewellery from Germany.
The said order is to be completed by August 2019, the company said in a press note to the exchanges today.
The company will be executing the order from its own manufacturing facility. This facility has a processing capacity of 250 tonnes of jewellery and gold products per annum, the company said.
Jet Airways extends rally; NCLT to pass order on SBI plea today
Shares of Jet Airways extended rally in the last hour of trading session. The stock gained ober 30% in the noon trade on Thursday as investors are waiting for the National Company Law Tribunal (NCLT) to pass an order on a plea moved by the operational creditors under section 9 of the Insolvency and Bankruptcy Code, which is scheduled to be heard on June 20, media reports stated.
As per media reports, SBI led consortium has decided to seek resolution under IBC since only a conditional bid was received and requirement of the Investor for SEBI exemptions and resolution of all creditors is possible under IBC.
Vedanta gains 2% after reports on govt assuring to resolving mining issues
Shares of Vedanta gained 2% on Thursday after media reports stated that Goa Chief Minister Pramod Sawant assured mining industry dependents that issues related to the sector will be resolved by July end.
As per media reports, mining and transportation, operations of Iron ore came to halt in Goa after the Supreme Court quashed 88 leases in February 2018.
The Chief Minister said that the mining issue is already taken up before the NITI Aayog.
Financial
Advisory Company in Indore, Stock
Advisory Company in Indore, Equity Tips, FreeTrading Tips , MCX Tips, sebi registered advisory company, Intraday
stock tips, Free
commodity tips
0 comments:
Post a Comment