The Reserve Bank of India has sought suggestions and objections to its draft scheme of amalgamation of Lakshmi Vila Bank with DBS Bank India Ltd till 20 November, following which a final decision will be taken
Mahindra & Mahindra: The company is crafting plans to take 10 of its most promising units public in the next 5-7 years as the automobiles-to-software conglomerate aims to unlock value in these so-called “gems" by bringing in new investors. It has also identified the 10 companies, across sectors such as mobility, clean energy, rural, financial services, infrastructure and technology, to drive the future growth of the group.
Vedanta: Mining conglomerate has put in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd, for which a major foreign player too is said to be in race. A special purpose vehicle floated by the BSE-listed Vedanta Ltd and its London-based parent Vedanta Resources submitted an EoI before the close of deadline on November 16.
Lakshmi Vilas Bank: Shareholders of the bank will ask the RBI to see that their interests be looked at sympathetically as investors watch their money vanish. Assuring depositors of enough liquidity, the newly-appointed administrator of Lakshmi Vilas Bank on Wednesd said the bank will be able to meet demand for funds and is recalibrating its systems accordingly.
Wipro: The IT services firm on Wednesday said it has fixed 11 December as the record date for its up to ₹9,500 crore share buyback programme. Its board of directors and shareholders have already approved its proposal to buyback up to 23,75,00,000 equity shares of the company at ₹400 per share, it added.
Tata Consultancy Services: The IT services firm on Wednesday said its shareholders have approved its up to ₹16,000 crore share buyback plan. Last month, TCS' board of directors had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at ₹3,000 per scrip for an aggregate amount not exceeding ₹16,000 crore.
Hero MotoCorp: India’s largest two-wheeler maker has recorded retail sales of more than 1.4 million motorcycles and scooters during the 31-day festive period. The company said retail sales for the period were equivalent of 98% of last year’s festive sales and 103% for the same period in 2018.
Nestle India: Large-scale migration and a good monsoon helped the FMCG company's brands clock strong sales in rural markets and smaller towns as more and new consumers bought more of its Maggi noodles and chocolates in the September quarter, said the company which draws significant business from urban markets. In the September quarter, urban growth for Nestlé India stood at 6%, while rural markets grew at 12%.
Pfizer: The company's US parent and BioNTech could secure emergency US and European authorization for their COVID-19 vaccine next month after final trial results showed it had a 95% success rate and no serious side effects.
Aviation companies: Indian airlines carried 5.27 million passengers in October, down 57% year-on-year, as a relentless rise in covid cases has kept appetite for travel in, according to data released by Directorate General of Civil Aviation. However, the traffic improved sequentially.
Punjab & Sind Bank: The lender will meet on Saturday to offer, issue, create and allot shares up to ₹5,500 crore to the Union government by way of preferential issue.
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